FSM - Fortuna Silver plunges another 20% as San Jose mine in limbo

Fortuna Silver Mines (FSM -19.8%) extends its two-day losses to nearly 25% on disappointing Q3 results and worries over the future of the San Jose mine in Mexico. Canaccord Genuity downgrades Fortuna to Sell from Hold with a C$5.50 price target on concerns about the regulatory challenges facing San Jose, which could have meaningful near-term impacts on the company's operations and liquidity. The mine has been operating under a temporary injunction granted by Mexican courts, but it is not clear how long the order will remain in place. BMO Capital cuts shares to Market Perform from Outperform with a C$7 target, saying it is hard to see the stock moving forward from current levels without more clarity on San Jose. If the San Jose environmental permit is not approved by April 23, 2022, BMO says the size of Fortuna's amended credit facility that had been expanded to $200M from $120M "could

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Fortuna Silver plunges another 20% as San Jose mine in limbo