Fortuna Silver Mines (FSM) Downgraded to “Sell” at Zacks Investment Research

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

Several other analysts also recently issued reports on FSM. BMO Capital Markets initiated coverage on Fortuna Silver Mines in a research note on Friday, November 17th. They set an “outperform” rating on the stock. Raymond James Financial downgraded Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.75.

Fortuna Silver Mines (FSM) traded up $0.08 during midday trading on Monday, hitting $4.64. The stock had a trading volume of 1,420,000 shares, compared to its average volume of 1,050,000. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.77 and a quick ratio of 4.45. Fortuna Silver Mines has a 1 year low of $4.03 and a 1 year high of $6.87. The company has a market capitalization of $727.94, a P/E ratio of 18.56 and a beta of 0.04.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $64.00 million for the quarter, compared to the consensus estimate of $56.00 million. Fortuna Silver Mines had a return on equity of 9.15% and a net margin of 15.44%. analysts forecast that Fortuna Silver Mines will post 0.34 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of FSM. Sheaff Brock Investment Advisors LLC raised its stake in Fortuna Silver Mines by 123.7% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,040 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 14,400 shares during the period. Shell Asset Management Co. raised its stake in Fortuna Silver Mines by 124.9% during the 3rd quarter. Shell Asset Management Co. now owns 31,141 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 17,292 shares during the period. BlueCrest Capital Management Ltd bought a new stake in Fortuna Silver Mines during the 2nd quarter valued at approximately $147,000. OxFORD Asset Management LLP bought a new stake in Fortuna Silver Mines during the 2nd quarter valued at approximately $150,000. Finally, Gamco Investors INC. ET AL bought a new stake in Fortuna Silver Mines in the 3rd quarter worth approximately $152,000. 43.58% of the stock is currently owned by institutional investors.

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About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

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