Fortuna Silver Mines (NYSE:FSM) Shares Gap Down – Here’s What Happened

Shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) gapped down prior to trading on Monday . The stock had previously closed at $4.88, but opened at $4.64. Fortuna Silver Mines shares last traded at $4.56, with a volume of 2,839,403 shares.

Analyst Ratings Changes

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

Fortuna Silver Mines Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00. The company has a market capitalization of $1.38 billion, a PE ratio of -40.86 and a beta of 1.60. The firm’s 50 day moving average is $4.62 and its 200 day moving average is $4.85.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 for the quarter. As a group, equities analysts predict that Fortuna Silver Mines Inc. will post 0.47 EPS for the current year.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds have recently modified their holdings of FSM. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fortuna Silver Mines during the 2nd quarter valued at about $92,000. The Manufacturers Life Insurance Company increased its stake 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 valued at $1,240,000 after purchasing an additional 3,392 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fortuna Silver Mines by 165.9% during the second 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 during the last quarter. Toronto Dominion Bank boosted 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 worth $131,000 after purchasing an additional 13,062 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Fortuna Silver Mines by 273.0% in 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 own 33.80% of the company’s stock.

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.