Fortuna Silver Mines Inc. (NYSE:FSM) Stock Position Cut by Millennium Management LLC

Millennium Management LLC decreased its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 22.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,551,667 shares of the basic materials company’s stock after selling 455,745 shares during the period. Millennium Management LLC owned approximately 0.51% of Fortuna Silver Mines worth $7,588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fortuna Silver Mines by 165.9% in 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 buying an additional 3,467,562 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fortuna Silver Mines during the second quarter valued at approximately $92,000. Toronto Dominion Bank grew its holdings in shares of Fortuna Silver Mines by 95.5% during the 2nd quarter. Toronto Dominion Bank now owns 26,743 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 13,062 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Fortuna Silver Mines by 273.0% in the second quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock valued at $6,180,000 after purchasing an additional 925,084 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at approximately $550,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock opened at $4.50 on Thursday. Fortuna Silver Mines Inc. has a 52 week low of $2.63 and a 52 week high of $6.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The firm has a market capitalization of $1.38 billion, a PE ratio of -40.86 and a beta of 1.60. The business’s 50-day simple moving average is $4.61 and its 200-day simple moving average is $4.84.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results 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). The company had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. Equities research analysts forecast that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased 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 research report on Monday, August 19th.

Fortuna Silver Mines 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.