BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Holdings in Fortuna Silver Mines Inc. (NYSE:FSM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,367 shares of the basic materials company’s stock after selling 27,708 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of Fortuna Silver Mines worth $838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. K2 Principal Fund L.P. acquired a new position in Fortuna Silver Mines in the second quarter valued at $550,000. AE Wealth Management LLC acquired a new position in shares of Fortuna Silver Mines during the 2nd quarter valued at about $118,000. Renaissance Technologies LLC lifted its holdings in shares of Fortuna Silver Mines by 94.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after acquiring an additional 2,507,249 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Fortuna Silver Mines by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock worth $29,865,000 after acquiring an additional 346,008 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Fortuna Silver Mines by 28.2% in the second quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after purchasing an additional 1,065,370 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Price Performance

FSM stock opened at $4.81 on Monday. The company has a market cap of $1.47 billion, a PE ratio of -43.73 and a beta of 1.59. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $4.63 and a two-hundred day moving average price of $4.78. Fortuna Silver Mines Inc. has a 12-month low of $2.58 and a 12-month high of $6.36.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. The firm had revenue of $259.97 million for the quarter. As a group, research analysts predict that Fortuna Silver Mines Inc. will post 0.47 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank increased their price target 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 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.