Aire Advisors LLC lowered its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM – Free Report) (TSE:FVI) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,000 shares of the basic materials company’s stock after selling 5,000 shares during the period. Aire Advisors LLC’s holdings in Fortuna Silver Mines were worth $289,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in Fortuna Silver Mines in the 2nd quarter valued at about $36,000. Perritt Capital Management Inc. increased its position in Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 3,000 shares during the period. Corundum Trust Company INC acquired a new position in Fortuna Silver Mines in the 2nd quarter valued at about $73,000. Coppell Advisory Solutions Corp. acquired a new position in Fortuna Silver Mines in the 1st quarter valued at about $56,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Fortuna Silver Mines in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 33.80% of the company’s stock.
Analysts Set New Price Targets
FSM has been the topic of several recent research reports. StockNews.com upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Scotiabank boosted their price target on Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th.
Fortuna Silver Mines Price Performance
Shares of FSM opened at $4.59 on Tuesday. Fortuna Silver Mines Inc. has a twelve month low of $2.58 and a twelve month high of $6.36. The stock’s 50 day moving average is $4.79 and its two-hundred day moving average is $4.55. The firm has a market capitalization of $1.41 billion, a PE ratio of -41.73 and a beta of 1.57. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.
Fortuna Silver Mines (NYSE:FSM – Get Free Report) (TSE:FVI) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. The business had revenue of $259.97 million during the quarter. Research analysts anticipate that Fortuna Silver Mines Inc. will post 0.52 earnings per share for the current year.
Fortuna Silver Mines 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.
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