K2 Principal Fund L.P. Invests $550,000 in Fortuna Silver Mines Inc. (NYSE:FSM)

K2 Principal Fund L.P. acquired a new position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 112,476 shares of the basic materials company’s stock, valued at approximately $550,000.

A number of other hedge funds have also made changes to their positions in FSM. Banque Cantonale Vaudoise purchased a new stake in shares of Fortuna Silver Mines during the 2nd quarter worth approximately $36,000. Perritt Capital Management Inc. increased its position in shares of Fortuna Silver Mines by 40.0% during the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 3,000 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in shares of Fortuna Silver Mines during the second quarter worth about $54,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Fortuna Silver Mines in the 1st quarter valued at about $56,000. Finally, Choreo LLC purchased a new position in Fortuna Silver Mines during the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Price Performance

Shares of FSM opened at $4.68 on Tuesday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -42.50 and a beta of 1.59. Fortuna Silver Mines Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $6.36. The firm has a 50-day simple moving average of $4.65 and a 200-day simple moving average of $4.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. The company had revenue of $259.97 million for the quarter. On average, equities research analysts anticipate that Fortuna Silver Mines Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Scotiabank raised 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 report on Monday, August 19th.

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.