Sprott Inc. Boosts Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Sprott Inc. raised its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,379,070 shares of the basic materials company’s stock after buying an additional 217,036 shares during the quarter. Sprott Inc.’s holdings in Fortuna Silver Mines were worth $9,171,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Fortuna Silver Mines by 19.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock valued at $233,000 after buying an additional 9,837 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Fortuna Silver Mines by 84.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 25,183 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 11,548 shares in the last quarter. Rathbones Group PLC purchased a new position in shares of Fortuna Silver Mines during the third quarter worth about $34,000. Swiss National Bank grew its holdings in shares of Fortuna Silver Mines by 2.1% during the third quarter. Swiss National Bank now owns 645,030 shares of the basic materials company’s stock worth $1,772,000 after purchasing an additional 13,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Fortuna Silver Mines during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Wall Street Analyst Weigh In

FSM has been the subject of several recent analyst reports. StockNews.com raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Scotiabank boosted their price objective on Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Finally, TheStreet lowered Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th.

Fortuna Silver Mines Price Performance

FSM traded down $0.32 during midday trading on Friday, hitting $4.97. The stock had a trading volume of 10,187,811 shares, compared to its average volume of 9,051,909. The company has a market cap of $1.52 billion, a P/E ratio of -45.18 and a beta of 1.61. The business has a fifty day moving average of $5.09 and a 200 day moving average of $4.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.76 and a current ratio of 1.27. Fortuna Silver Mines Inc. has a 1 year low of $2.58 and a 1 year high of $6.36.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Tuesday, May 7th. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. Fortuna Silver Mines had a positive return on equity of 6.04% and a negative net margin of 3.94%. The firm had revenue of $224.95 million during the quarter. As a group, equities analysts forecast that Fortuna Silver Mines Inc. will post 0.37 earnings per share for the current fiscal year.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d'Ivoire.