Aigen Investment Management LP Purchases 59,101 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Aigen Investment Management LP raised its position in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 100.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,000 shares of the basic materials company’s stock after acquiring an additional 59,101 shares during the quarter. Aigen Investment Management LP’s holdings in Fortuna Silver Mines were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Perritt Capital Management Inc. lifted its stake 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 purchasing an additional 3,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Fortuna Silver Mines by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after buying an additional 3,392 shares during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Fortuna Silver Mines during the 3rd quarter worth approximately $29,000. Banque Cantonale Vaudoise bought a new position in shares of Fortuna Silver Mines during the 2nd quarter worth approximately $36,000. Finally, TD Asset Management Inc increased its holdings in shares of Fortuna Silver Mines by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company’s stock worth $4,054,000 after acquiring an additional 7,542 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective 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 Trading Down 1.1 %

Shares of FSM stock opened at $4.54 on Thursday. Fortuna Silver Mines Inc. has a 12-month low of $2.63 and a 12-month high of $6.36. The company has a market capitalization of $1.42 billion, a PE ratio of 56.76 and a beta of 1.58. The firm has a 50 day moving average price of $4.79 and a two-hundred day moving average price of $4.93. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines Company 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.