Fortuna Silver Mines Inc. (NYSE:FSM)’s share price fell 4.6% during mid-day trading on Monday . The company traded as low as $7.57 and last traded at $7.70, with a volume of 799,989 shares traded. The stock had previously closed at $8.07.

A number of brokerages recently issued reports on FSM. Zacks Investment Research cut Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. BMO Capital Markets cut Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Scotiabank restated a “sector perform” rating and set a $6.25 price objective (up from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Finally, TheStreet upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, April 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Fortuna Silver Mines has a consensus rating of “Hold” and a consensus target price of $5.92.

The company has a 50 day moving average price of $7.21 and a 200-day moving average price of $4.96. The firm’s market cap is $1.01 billion.

Fortuna Silver Mines (NYSE:FSM) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. The business had revenue of $42.70 million for the quarter, compared to the consensus estimate of $37.47 million. During the same period in the prior year, the business posted $0.03 earnings per share. Fortuna Silver Mines’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts predict that Fortuna Silver Mines Inc. will post $0.21 earnings per share for the current fiscal year.

Other large investors have modified their holdings of the company. Morgan Stanley raised its stake in shares of Fortuna Silver Mines by 3.7% in the fourth quarter. Morgan Stanley now owns 772,997 shares of the company’s stock worth $1,739,000 after buying an additional 27,560 shares in the last quarter. Central Square Management LLC raised its stake in shares of 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 worth $2,255,000 after buying an additional 160,328 shares during the period. OppenheimerFunds Inc. raised its stake in shares of Fortuna Silver Mines by 32.9% in the fourth quarter. OppenheimerFunds Inc. now owns 930,000 shares of the company’s stock worth $2,090,000 after buying an additional 230,000 shares during the period. Finally, Russell Frank Co purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth $1,030,000.

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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