Gabelli Funds LLC Grows Position in Fortuna Silver Mines Inc (NYSE:FSM)

Gabelli Funds LLC raised its position in Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 18.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,100,000 shares of the basic materials company’s stock after purchasing an additional 175,000 shares during the quarter. Gabelli Funds LLC owned 0.69% of Fortuna Silver Mines worth $3,399,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FSM. JPMorgan Chase & Co. raised its holdings in shares of Fortuna Silver Mines by 2,524.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,403,156 shares of the basic materials company’s stock valued at $4,055,000 after buying an additional 1,349,685 shares during the period. Alps Advisors Inc. raised its holdings in shares of Fortuna Silver Mines by 28.2% during the 2nd quarter. Alps Advisors Inc. now owns 929,365 shares of the basic materials company’s stock valued at $2,649,000 after buying an additional 204,187 shares during the period. Swiss National Bank raised its holdings in shares of Fortuna Silver Mines by 3.8% during the 2nd quarter. Swiss National Bank now owns 299,600 shares of the basic materials company’s stock valued at $853,000 after buying an additional 10,900 shares during the period. Vanguard Group Inc. raised its holdings in shares of Fortuna Silver Mines by 6.8% during the 2nd quarter. Vanguard Group Inc. now owns 85,364 shares of the basic materials company’s stock valued at $243,000 after buying an additional 5,399 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Fortuna Silver Mines by 29.9% during the 2nd quarter. Renaissance Technologies LLC now owns 8,748,331 shares of the basic materials company’s stock valued at $24,933,000 after buying an additional 2,015,500 shares during the period. Institutional investors own 36.99% of the company’s stock.

FSM stock traded down $0.04 during midday trading on Friday, hitting $3.08. 2,384,167 shares of the company’s stock were exchanged, compared to its average volume of 1,943,170. The company has a current ratio of 1.66, a quick ratio of 1.47 and a debt-to-equity ratio of 0.13. Fortuna Silver Mines Inc has a 12-month low of $2.39 and a 12-month high of $4.59. The firm has a 50 day moving average price of $3.19 and a 200-day moving average price of $3.24. The stock has a market capitalization of $484.88 million, a price-to-earnings ratio of 12.83 and a beta of 0.28.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Fortuna Silver Mines had a return on equity of 4.43% and a net margin of 8.75%. The company had revenue of $67.91 million for the quarter. On average, sell-side analysts forecast that Fortuna Silver Mines Inc will post 0.18 EPS for the current fiscal year.

Several brokerages recently commented on FSM. ValuEngine downgraded Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Scotiabank upgraded Fortuna Silver Mines from a “sector perform” rating to a “sector outperform” rating and set a $5.00 target price on the stock in a report on Tuesday, September 10th. Canaccord Genuity upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Friday, September 13th. Finally, Zacks Investment Research upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $4.67.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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Institutional Ownership by Quarter for Fortuna Silver Mines (NYSE:FSM)

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