Fortuna Silver Mines Inc. (NYSE:FSM) shares traded down 8.5% on Wednesday . The company traded as low as $8.12 and last traded at $8.18, with a volume of 1,318,219 shares changing hands. The stock had previously closed at $8.94.

A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $11.50 price objective (up previously from $9.00) on shares of Fortuna Silver Mines in a report on Saturday, August 13th. Canaccord Genuity reiterated a “hold” rating and issued a $12.25 target price (up previously from $11.75) on shares of Fortuna Silver Mines in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating and set a $9.75 target price on the stock in a research report on Thursday, July 28th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $6.25 target price (up previously from $5.60) on shares of Fortuna Silver Mines in a research report on Tuesday, June 14th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.00.

The firm has a 50-day moving average price of $8.72 and a 200-day moving average price of $6.04. The firm’s market cap is $1.15 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.

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