Connor Clark & Lunn Investment Management Ltd. Increases Stake in Fortuna Silver Mines Inc. (NYSE:FSM)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 63.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,170,700 shares of the basic materials company’s stock after buying an additional 845,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Fortuna Silver Mines were worth $9,305,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Fortuna Silver Mines during the 4th quarter worth $34,000. SeaCrest Wealth Management LLC purchased a new position in Fortuna Silver Mines during the 4th quarter worth $45,000. Y Intercept Hong Kong Ltd purchased a new position in Fortuna Silver Mines during the 4th quarter worth $67,000. Kingswood Wealth Advisors LLC purchased a new position in Fortuna Silver Mines during the 4th quarter worth $68,000. Finally, SG Americas Securities LLC raised its position in Fortuna Silver Mines by 61.8% during the 4th quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock worth $95,000 after buying an additional 8,484 shares during the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FSM shares. Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Scotiabank lowered their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th.

Fortuna Silver Mines Stock Performance

NYSE:FSM opened at $5.66 on Friday. The stock has a market cap of $1.73 billion, a PE ratio of 70.70 and a beta of 1.50. Fortuna Silver Mines Inc. has a fifty-two week low of $3.23 and a fifty-two week high of $6.36. The firm’s fifty day simple moving average is $4.71 and its 200-day simple moving average is $4.72. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million during the quarter, compared to analyst estimates of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. Analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current fiscal year.

Fortuna Silver Mines Profile

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.