Private Advisor Group LLC Makes New Investment in Fortuna Silver Mines Inc. (NYSE:FSM)

Private Advisor Group LLC bought a new stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,755 shares of the basic materials company’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cubist Systematic Strategies LLC grew its position in shares of Fortuna Silver Mines by 273.0% during 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. bought a new position in Fortuna Silver Mines during the 2nd quarter worth $550,000. D. E. Shaw & Co. Inc. raised its holdings 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 valued at $27,176,000 after acquiring an additional 3,467,562 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortuna Silver Mines by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock valued at $29,865,000 after acquiring an additional 346,008 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Fortuna Silver Mines by 94.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after purchasing an additional 2,507,249 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Stock Performance

Shares of NYSE:FSM opened at $4.78 on Friday. Fortuna Silver Mines Inc. has a 1 year low of $2.63 and a 1 year high of $6.36. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 59.76 and a beta of 1.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00. The company’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $4.94.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted 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). Fortuna Silver Mines had a return on equity of 10.36% and a net margin of 2.45%. The business had revenue of $259.97 million for the quarter. As a group, research analysts predict that Fortuna Silver Mines Inc. will post 0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, 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 note on Monday, August 19th.

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.