CIBC Asset Management Inc reduced its holdings in shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 23.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,079 shares of the basic materials company’s stock after selling 110,733 shares during the quarter. CIBC Asset Management Inc owned about 0.23% of Fortuna Silver Mines worth $1,606,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of Fortuna Silver Mines by 3,962.3% during the 3rd quarter. Wells Fargo & Company MN now owns 23,683 shares of the basic materials company’s stock valued at $103,000 after buying an additional 23,100 shares in the last quarter. Vanguard Capital Wealth Advisors purchased a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at approximately $144,000. Ramsey Quantitative Systems lifted its stake in shares of Fortuna Silver Mines by 349.1% during the 3rd quarter. Ramsey Quantitative Systems now owns 29,306 shares of the basic materials company’s stock valued at $128,000 after buying an additional 22,780 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at approximately $239,000. Finally, Signition LP purchased a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at approximately $142,000. Institutional investors own 42.87% of the company’s stock.
NYSE FSM opened at $3.56 on Friday. Fortuna Silver Mines Inc has a 1 year low of $3.45 and a 1 year high of $6.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.75 and a current ratio of 5.10. The company has a market capitalization of $599.70 million, a price-to-earnings ratio of 11.48 and a beta of 0.24.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Thursday, November 8th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Fortuna Silver Mines had a net margin of 24.48% and a return on equity of 8.57%. As a group, research analysts forecast that Fortuna Silver Mines Inc will post 0.21 EPS for the current fiscal year.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Fortuna Silver Mines from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, TheStreet cut shares of Fortuna Silver Mines from a “b” rating to a “c+” rating in a research note on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Fortuna Silver Mines has an average rating of “Hold” and an average price target of $6.25.
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Fortuna Silver Mines Profile
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.
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