Fortuna Silver Mines Inc. (NYSE:FSM) fell 4.5% during mid-day trading on Tuesday . The company traded as low as $8.46 and last traded at $8.47, with a volume of 1,228,325 shares trading hands. The stock had previously closed at $8.87.

Several equities research analysts have issued reports on FSM shares. Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Scotiabank reiterated a “sector perform” rating and set a $6.25 price target (up previously from $5.60) on shares of Fortuna Silver Mines in a report on Tuesday, June 14th. BMO Capital Markets lowered Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a report on Thursday, May 12th. Finally, TheStreet lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Thursday, March 31st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.92.

The stock’s 50 day moving average is $6.69 and its 200 day moving average is $4.69. The company’s market cap is $1.12 billion.

Fortuna Silver Mines (NYSE:FSM) last released its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The business earned $42.70 million during the quarter, compared to analysts’ expectations of $37.47 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts predict that Fortuna Silver Mines Inc. will post $0.20 earnings per share for the current year.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Russell Frank Co acquired a new position in Fortuna Silver Mines during the fourth quarter valued at about $1,030,000. Morgan Stanley boosted its position in Fortuna Silver Mines by 3.7% in the fourth quarter. Morgan Stanley now owns 772,997 shares of the company’s stock valued at $1,739,000 after buying an additional 27,560 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Fortuna Silver Mines by 32.9% in the fourth quarter. OppenheimerFunds Inc. now owns 930,000 shares of the company’s stock valued at $2,090,000 after buying an additional 230,000 shares during the last quarter. Finally, Central Square Management LLC boosted its position in Fortuna Silver Mines by 19.0% in the fourth quarter. Central Square Management LLC now owns 1,002,249 shares of the company’s stock valued at $2,255,000 after buying an additional 160,328 shares during the last quarter.

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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