Financial Management Professionals Inc. Purchases New Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Financial Management Professionals Inc. purchased a new stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,250 shares of the basic materials company’s stock, valued at approximately $29,000.

A number of other institutional investors also recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its stake in Fortuna Silver Mines by 273.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock worth $6,180,000 after purchasing an additional 925,084 shares in the last quarter. K2 Principal Fund L.P. purchased a new stake in Fortuna Silver Mines in the 2nd quarter worth approximately $550,000. D. E. Shaw & Co. Inc. lifted its stake in Fortuna Silver Mines by 165.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Fortuna Silver Mines by 5.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock worth $29,710,000 after purchasing an additional 388,903 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Fortuna Silver Mines by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock worth $29,865,000 after purchasing an additional 346,008 shares in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their target price on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th.

Fortuna Silver Mines Price Performance

Shares of NYSE:FSM opened at $5.08 on Monday. The company’s fifty day moving average price is $4.75 and its 200-day moving average price is $4.92. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -46.18 and a beta of 1.60. Fortuna Silver Mines Inc. has a one year low of $2.63 and a one year high of $6.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. On average, equities research analysts anticipate that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current fiscal year.

Fortuna Silver Mines Profile

Fortuna Mining Corp. 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.