Fortuna Silver Mines (TSE:FVI) Stock Rating Lowered by Cibc World Mkts

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was downgraded by Cibc World Mkts from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to an “underperform” rating and cut their target price for the stock from C$8.00 to C$7.00 in a research report on Tuesday.

Fortuna Silver Mines Stock Performance

Shares of FVI stock opened at C$6.56 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.94 and a debt-to-equity ratio of 13.30. The company has a 50 day moving average price of C$6.67 and a 200-day moving average price of C$6.57. Fortuna Silver Mines has a 52 week low of C$3.57 and a 52 week high of C$8.68. The firm has a market capitalization of C$1.45 billion, a PE ratio of 58.23 and a beta of 1.63.

About Fortuna Silver Mines

Fortuna Silver Mines Inc is engaged in precious and base metal mining and related activities in Argentina, Burkina Faso, Mexico, Peru, and Cote d’Ivoire. The company operates the open pit Lindero gold mine in northern Argentina, the underground Yaramoko mine in southwestern Burkina Faso, the underground San Jose silver and gold mine in southern Mexico, the underground Caylloma silver, lead, and zinc mine in southern Peru, and is developing the open pit Seguela gold mine in southwestern Cote d’Ivoire.