Fortuna Silver Mines (TSE:FVI) Downgraded to “Strong Sell” Rating by Cibc World Mkts

Cibc World Mkts cut shares of Fortuna Silver Mines (TSE:FVI) (NYSE:FSM) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

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

Fortuna Silver Mines Price Performance

TSE:FVI opened at C$6.70 on Tuesday. The firm’s fifty day moving average is C$6.69 and its two-hundred day moving average is C$6.57. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of 59.47 and a beta of 1.63. The company has a debt-to-equity ratio of 13.30, a quick ratio of 1.15 and a current ratio of 1.94. Fortuna Silver Mines has a one year low of C$3.57 and a one year high of C$8.68.

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.