Fortuna Silver Mines (NYSE:FSM) Shares Down 4.5%

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) were down 4.5% on Friday . The company traded as low as $4.84 and last traded at $4.84. Approximately 2,925,585 shares traded hands during trading, a decline of 52% from the average daily volume of 6,151,640 shares. The stock had previously closed at $5.07.

Analysts Set New Price Targets

Separately, Scotiabank boosted 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 note on Monday, August 19th.

Fortuna Silver Mines Stock Down 5.1 %

The firm has a 50-day simple moving average of $4.63 and a 200 day simple moving average of $4.77. The company has a market capitalization of $1.47 billion, a PE ratio of -43.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced 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). The company had revenue of $259.97 million for the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. On average, research analysts predict that Fortuna Silver Mines Inc. will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth about $92,000. The Manufacturers Life Insurance Company grew its stake in Fortuna Silver Mines by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after purchasing an additional 3,392 shares in the last quarter. 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. Toronto Dominion Bank raised its position in shares of Fortuna Silver Mines by 95.5% in the 2nd quarter. Toronto Dominion Bank now owns 26,743 shares of the basic materials company’s stock valued at $131,000 after purchasing an additional 13,062 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake 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 valued at $6,180,000 after buying an additional 925,084 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Company 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.