Fortuna Silver Mines (TSE:FVI) Cut to “Underperform” at CIBC

Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) was downgraded by CIBC from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$7.00 target price on the stock, down from their previous target price of C$8.00. CIBC’s price objective points to a potential upside of 5.74% from the stock’s previous close.

Fortuna Silver Mines Stock Down 9.4 %

Shares of TSE:FVI traded down C$0.69 during midday trading on Tuesday, hitting C$6.62. 984,615 shares of the stock were exchanged, compared to its average volume of 725,089. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.15 and a current ratio of 1.94. The company has a market capitalization of C$1.46 billion, a PE ratio of 58.76 and a beta of 1.63. Fortuna Silver Mines has a 52-week low of C$3.57 and a 52-week high of C$8.68. The business’s fifty day simple moving average is C$6.69 and its two-hundred day simple moving average is C$6.57.

Fortuna Silver Mines Company Profile

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.