Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Fortuna Silver Mines Inc. (NYSE:FSM)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,324,800 shares of the basic materials company’s stock after selling 323,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fortuna Silver Mines were worth $6,161,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in shares of Fortuna Silver Mines in the 3rd quarter worth about $29,000. Banque Cantonale Vaudoise purchased a new position in Fortuna Silver Mines in the second quarter worth about $36,000. Perritt Capital Management Inc. raised its holdings in Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after buying an additional 3,000 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Fortuna Silver Mines in the third quarter worth approximately $50,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the second quarter valued at approximately $54,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Silver Mines Stock Performance

Shares of NYSE FSM opened at $4.97 on Friday. The firm’s 50-day moving average price is $4.85 and its 200-day moving average price is $4.94. Fortuna Silver Mines Inc. has a 52-week low of $2.63 and a 52-week high of $6.36. The company has a market cap of $1.56 billion, a PE ratio of 62.13 and a beta of 1.58. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their target price 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 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.