Fortuna Silver Mines (NYSE:FSM) Lowered to “Hold” at Canaccord Genuity

Canaccord Genuity downgraded shares of Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research note released on Thursday, The Fly reports.

A number of other research firms also recently weighed in on FSM. Zacks Investment Research raised shares of Fortuna Silver Mines from a hold rating to a buy rating and set a $4.50 price target on the stock in a research note on Thursday, July 25th. ValuEngine raised shares of Fortuna Silver Mines from a sell rating to a hold rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $4.50.

NYSE:FSM traded down $0.01 during trading hours on Thursday, reaching $4.29. 2,953,037 shares of the company were exchanged, compared to its average volume of 1,678,963. The company has a current ratio of 2.71, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market cap of $678.03 million, a price-to-earnings ratio of 17.88 and a beta of 0.35. Fortuna Silver Mines has a 52-week low of $2.39 and a 52-week high of $4.77. The company’s 50 day moving average is $3.36.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Tuesday, May 14th. The basic materials company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $59.00 million for the quarter, compared to analysts’ expectations of $62.60 million. Fortuna Silver Mines had a return on equity of 4.94% and a net margin of 8.90%. The business’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. On average, analysts forecast that Fortuna Silver Mines will post 0.14 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in FSM. Quantitative Systematic Strategies LLC increased its position in shares of Fortuna Silver Mines by 92.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 30,728 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 14,795 shares in the last quarter. Capital Wealth Planning LLC acquired a new stake in shares of Fortuna Silver Mines in the second quarter worth $90,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Fortuna Silver Mines in the first quarter worth $126,000. Bank of America Corp DE increased its position in shares of Fortuna Silver Mines by 77.9% in the fourth quarter. Bank of America Corp DE now owns 45,936 shares of the basic materials company’s stock worth $168,000 after acquiring an additional 20,117 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Fortuna Silver Mines in the fourth quarter worth $183,000. 41.35% of the stock is owned by institutional investors.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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