Fortuna Silver Mines (NYSE:FSM) Downgraded by StockNews.com

StockNews.com downgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research report sent to investors on Monday.

Other analysts have also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the stock a sector perform rating in a research note on Monday, April 8th. TheStreet cut shares of Fortuna Silver Mines from a c- rating to a d rating in a research note on Thursday, March 7th.

Fortuna Silver Mines Stock Performance

Shares of FSM stock opened at $4.52 on Monday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -28.22 and a beta of 1.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 1.37. The company has a 50-day simple moving average of $3.52 and a 200 day simple moving average of $3.41. Fortuna Silver Mines has a 52 week low of $2.58 and a 52 week high of $4.94.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). Fortuna Silver Mines had a positive return on equity of 5.03% and a negative net margin of 5.99%. The company had revenue of $265.31 million for the quarter. On average, sell-side analysts predict that Fortuna Silver Mines will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Fortuna Silver Mines by 27.9% during the 3rd 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. The Manufacturers Life Insurance Company increased its position in Fortuna Silver Mines by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 213,716 shares of the basic materials company’s stock worth $695,000 after purchasing an additional 3,435 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Fortuna Silver Mines by 44.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 11,465 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 3,510 shares in the last quarter. Citigroup Inc. increased its position in Fortuna Silver Mines by 5.6% during the 1st quarter. Citigroup Inc. now owns 86,933 shares of the basic materials company’s stock worth $331,000 after purchasing an additional 4,601 shares in the last quarter. Finally, LPL Financial LLC increased its position in Fortuna Silver Mines by 27.4% during the 3rd quarter. LPL Financial LLC now owns 22,347 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 4,800 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.