Fortuna Silver Mines Target of Unusually Large Options Trading (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) saw unusually large options trading activity on Friday. Stock investors bought 11,082 call options on the stock. This represents an increase of approximately 252% compared to the average daily volume of 3,145 call options.

Fortuna Silver Mines Trading Up 1.1 %

NYSE:FSM opened at $4.91 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines has a 1-year low of $2.58 and a 1-year high of $6.36. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -44.59 and a beta of 1.59. The business’s 50-day moving average price is $4.67 and its two-hundred day moving average price is $4.69.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. The firm had revenue of $259.97 million during the quarter. On average, equities analysts expect that Fortuna Silver Mines will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fortuna Silver Mines during the 2nd quarter worth $92,000. The Manufacturers Life Insurance Company raised its position in shares of Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock worth $1,240,000 after purchasing an additional 3,392 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of 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 valued at $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Toronto Dominion Bank grew 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 during the period. Finally, Cubist Systematic Strategies LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank lifted their target price on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

About Fortuna Silver Mines

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.