Fortuna Silver Mines (NYSE:FSM) Trading Down 2.6% Following Analyst Downgrade

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) shares traded down 2.6% during trading on Wednesday after Scotiabank lowered their price target on the stock from $6.75 to $6.00. Scotiabank currently has a sector perform rating on the stock. Fortuna Silver Mines traded as low as $4.42 and last traded at $4.44. 1,256,723 shares were traded during trading, a decline of 86% from the average session volume of 8,770,399 shares. The stock had previously closed at $4.56.

Institutional Trading of Fortuna Silver Mines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in Fortuna Silver Mines in the third quarter valued at approximately $29,000. SeaCrest Wealth Management LLC bought a new position in shares of Fortuna Silver Mines during the 4th quarter worth $45,000. Private Advisor Group LLC purchased a new stake in Fortuna Silver Mines in the 3rd quarter worth about $50,000. Choreo LLC bought a new position in shares of Fortuna Silver Mines in the second quarter worth $59,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at $92,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Silver Mines Stock Performance

The company has a 50-day moving average price of $4.63 and a two-hundred day moving average price of $4.73. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.35 billion, a P/E ratio of 54.88 and a beta of 1.55.

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.