Fortuna Silver Mines Inc. (NYSE:FSM) fell 4.8% during mid-day trading on Tuesday . The stock traded as low as $7.76 and last traded at $7.81, with a volume of 582,788 shares traded. The stock had previously closed at $8.20.

Several research firms have recently issued reports on FSM. BMO Capital Markets reissued a “market perform” rating and issued a $11.50 price objective (up previously from $9.00) on shares of Fortuna Silver Mines in a research report on Saturday, August 13th. Canaccord Genuity reaffirmed a “hold” rating and set a $12.25 price target (up from $11.75) on shares of Fortuna Silver Mines in a report on Thursday, August 11th. Zacks Investment Research raised shares of Fortuna Silver Mines from a “hold” rating to a “strong-buy” rating and set a $9.75 price target for the company in a report on Thursday, July 28th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $6.25 price target (up from $5.60) on shares of Fortuna Silver Mines in a report 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 company’s market capitalization is $1.08 billion. The firm has a 50-day moving average of $8.65 and a 200 day moving average of $6.19.

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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