Fortuna Silver Mines Inc. (NYSE:FSM)’s share price traded down 8.5% during mid-day trading on Wednesday . The stock traded as low as $8.12 and last traded at $8.18, with a volume of 1,318,219 shares trading hands. The stock had previously closed at $8.94.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, May 17th. BMO Capital Markets downgraded shares of Fortuna Silver Mines from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 12th. Canaccord Genuity reissued a “hold” rating and set a $12.25 target price (up previously from $11.75) on shares of Fortuna Silver Mines in a research note on Thursday, August 11th. Finally, Scotiabank reissued a “sector perform” rating and set a $6.25 target price (up previously from $5.60) on shares of Fortuna Silver Mines in a research note on Tuesday, June 14th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.00.

The stock’s 50 day moving average is $8.73 and its 200-day moving average is $6.01. The firm’s market cap is $1.11 billion.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.