Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Fortuna Silver Mines Inc. is engaged in the exploration, mining and development of silver and base metal properties in Latin America. Its core assets include the Caylloma Ag-Pb-Zn-Cu Mine located in Arequipa, Peru and the San Jose Ag – Au Project located in Oaxaca, Mexico. Fortuna Silver Mines Inc. is headquartered in Lima, Peru. “

A number of other analysts have also recently commented on the stock. Raymond James Financial cut shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, November 21st. BMO Capital Markets started coverage on shares of Fortuna Silver Mines in a report on Friday, November 17th. They set an “outperform” rating on the stock. Finally, Scotiabank dropped their target price on shares of Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Fortuna Silver Mines presently has an average rating of “Buy” and an average price target of $6.75.

Shares of Fortuna Silver Mines (NYSE FSM) traded down $0.04 during mid-day trading on Tuesday, hitting $5.03. 810,100 shares of the stock were exchanged, compared to its average volume of 956,433. Fortuna Silver Mines has a 1 year low of $4.03 and a 1 year high of $6.92. The company has a market cap of $809.36, a PE ratio of 20.12 and a beta of 0.12. The company has a current ratio of 4.77, a quick ratio of 4.45 and a debt-to-equity ratio of 0.08.

Institutional investors have recently made changes to their positions in the stock. Sheaff Brock Investment Advisors LLC boosted its stake in Fortuna Silver Mines by 123.7% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,040 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 14,400 shares in the last quarter. Shell Asset Management Co. boosted its stake in Fortuna Silver Mines by 124.9% in the 3rd quarter. Shell Asset Management Co. now owns 31,141 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 17,292 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Fortuna Silver Mines in the 2nd quarter worth about $147,000. OxFORD Asset Management LLP bought a new position in Fortuna Silver Mines in the 2nd quarter worth about $150,000. Finally, Gamco Investors INC. ET AL bought a new position in Fortuna Silver Mines in the 3rd quarter worth about $152,000. Institutional investors own 42.18% of the company’s stock.

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About Fortuna Silver Mines

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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