Fortuna Silver Mines (NYSE:FSM) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Fortuna Silver Mines (NYSE:FSMGet Rating) (TSE:FVI) from a hold rating to a sell rating in a research report report published on Monday morning.

Several other research firms have also recently issued reports on FSM. BMO Capital Markets raised their price objective on Fortuna Silver Mines from C$5.25 to C$5.75 in a report on Friday, November 11th. National Bank Financial lifted their target price on Fortuna Silver Mines from C$4.25 to C$4.75 in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $5.33.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock opened at $3.69 on Monday. Fortuna Silver Mines has a fifty-two week low of $2.05 and a fifty-two week high of $4.68. The stock has a fifty day moving average of $2.85 and a two-hundred day moving average of $2.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.29 and a current ratio of 1.93. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 26.36 and a beta of 1.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toroso Investments LLC lifted its stake in shares of Fortuna Silver Mines by 38.0% during the third quarter. Toroso Investments LLC now owns 50,031 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 13,781 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Fortuna Silver Mines by 190.9% during the third quarter. Alliancebernstein L.P. now owns 39,466 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 25,900 shares in the last quarter. Euro Pacific Asset Management LLC lifted its stake in shares of Fortuna Silver Mines by 16.5% during the third quarter. Euro Pacific Asset Management LLC now owns 4,037,517 shares of the basic materials company’s stock worth $10,159,000 after purchasing an additional 573,191 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Fortuna Silver Mines during the third quarter worth about $26,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Fortuna Silver Mines by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 13,530 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 2,955 shares in the last quarter. Institutional investors and hedge funds own 27.92% of the company’s stock.

Fortuna Silver Mines Company Profile

(Get Rating)

Fortuna Silver Mines Inc engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire.

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