Fortuna Silver Mines (NYSE:FSM) Stock Price Down 6.5% – What’s Next?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price dropped 6.5% during trading on Tuesday . The company traded as low as $4.82 and last traded at $4.82. Approximately 2,317,304 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 12,260,748 shares. The stock had previously closed at $5.15.

Wall Street Analyst Weigh In

FSM has been the subject of a number of research reports. Scotiabank reduced their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday. Finally, CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortuna Silver Mines currently has a consensus rating of “Hold” and an average price target of $6.00.

Fortuna Silver Mines Stock Performance

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 60.32 and a beta of 1.56. The firm has a fifty day simple moving average of $4.64 and a 200 day simple moving average of $4.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Institutional Investors Weigh In On Fortuna Silver Mines

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Fortuna Silver Mines during the third quarter worth about $1,347,000. Van ECK Associates Corp boosted its holdings in Fortuna Silver Mines by 2.6% during the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock worth $141,511,000 after buying an additional 788,703 shares in the last quarter. Franklin Resources Inc. increased its stake in Fortuna Silver Mines by 616.1% in the 3rd quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock valued at $1,231,000 after purchasing an additional 218,100 shares in the last quarter. Barclays PLC purchased a new position in Fortuna Silver Mines during the 3rd quarter valued at about $2,227,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Fortuna Silver Mines during the third quarter worth $1,765,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Silver Mines Company Profile

Fortuna Mining Corp. 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.