Van ECK Associates Corp Boosts Stock Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Van ECK Associates Corp boosted its holdings in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,563,833 shares of the basic materials company’s stock after purchasing an additional 788,703 shares during the quarter. Van ECK Associates Corp owned approximately 9.98% of Fortuna Silver Mines worth $141,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its holdings in 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 during the last quarter. K2 Principal Fund L.P. purchased a new stake in Fortuna Silver Mines during the 2nd quarter worth approximately $550,000. D. E. Shaw & Co. Inc. increased its holdings in Fortuna Silver Mines by 165.9% during 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 during the last quarter. Sicart Associates LLC purchased a new stake in Fortuna Silver Mines during the 3rd quarter worth approximately $3,171,000. Finally, Dimensional Fund Advisors LP increased its holdings in 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 worth $29,865,000 after purchasing an additional 346,008 shares during the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank lifted their target price on 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 Stock Performance

Shares of FSM traded down $0.07 during mid-day trading on Friday, hitting $4.90. The stock had a trading volume of 7,232,235 shares, compared to its average volume of 7,475,748. The company has a market cap of $1.54 billion, a PE ratio of 490.49 and a beta of 1.58. The company’s fifty day simple moving average is $4.77 and its two-hundred day simple moving average is $4.93. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $6.36.

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 firm had revenue of $259.97 million during the quarter. On average, equities analysts expect that Fortuna Silver Mines Inc. will post 0.43 earnings per share for the current year.

About Fortuna Silver Mines

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.