Fortuna Silver Mines Inc. (FSM) Holdings Lifted by Global X MANAGEMENT CO LLC
Global X MANAGEMENT CO LLC boosted its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024,865 shares of the basic materials company’s stock after acquiring an additional 152,793 shares during the quarter. Global X MANAGEMENT CO LLC owned 1.27% of Fortuna Silver Mines worth $8,840,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its stake in Fortuna Silver Mines by 37.4% during the third quarter. Alps Advisors Inc. now owns 1,239,202 shares of the basic materials company’s stock worth $5,428,000 after acquiring an additional 337,016 shares in the last quarter. Gabelli Funds LLC raised its stake in Fortuna Silver Mines by 204.3% during the third quarter. Gabelli Funds LLC now owns 1,750,000 shares of the basic materials company’s stock worth $7,665,000 after acquiring an additional 1,175,000 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Fortuna Silver Mines during the third quarter worth $152,000. Ingalls & Snyder LLC raised its stake in Fortuna Silver Mines by 184.0% during the third quarter. Ingalls & Snyder LLC now owns 1,512,200 shares of the basic materials company’s stock worth $6,623,000 after acquiring an additional 979,800 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in Fortuna Silver Mines by 124.9% during the third quarter. Shell Asset Management Co. now owns 31,141 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 17,292 shares in the last quarter. Hedge funds and other institutional investors own 44.85% of the company’s stock.
Shares of Fortuna Silver Mines Inc. (NYSE FSM) traded down $0.25 during trading hours on Friday, hitting $4.08. The stock had a trading volume of 1,975,700 shares, compared to its average volume of 1,060,606. Fortuna Silver Mines Inc. has a 52 week low of $4.06 and a 52 week high of $6.92. The firm has a market capitalization of $649.63, a price-to-earnings ratio of 14.57 and a beta of 0.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.53 and a current ratio of 4.84.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Monday, August 14th. The basic materials company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. Fortuna Silver Mines had a return on equity of 9.37% and a net margin of 15.44%. The company had revenue of $63.90 million during the quarter, compared to analyst estimates of $58.00 million. During the same period last year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was up 43.6% compared to the same quarter last year. analysts predict that Fortuna Silver Mines Inc. will post 0.29 EPS for the current fiscal year.
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Several research analysts have issued reports on the company. Canaccord Genuity assumed coverage on Fortuna Silver Mines in a research note on Thursday, September 7th. They set a “buy” rating for the company. Zacks Investment Research upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Scotiabank lowered their target price on Fortuna Silver Mines from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Friday, October 6th. Finally, BidaskClub lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $6.75.
Fortuna Silver Mines Profile
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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