Bank of Nova Scotia Purchases Shares of 10,719 Fortuna Silver Mines Inc. (NYSE:FSM)

Bank of Nova Scotia purchased a new position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,719 shares of the basic materials company’s stock, valued at approximately $46,000.

A number of other institutional investors have also modified their holdings of FSM. Legal & General Group Plc boosted its stake in shares of Fortuna Silver Mines by 10.0% in the fourth quarter. Legal & General Group Plc now owns 863,406 shares of the basic materials company’s stock worth $3,704,000 after buying an additional 78,284 shares during the last quarter. Invesco Ltd. boosted its position in Fortuna Silver Mines by 1,558.0% in the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock worth $8,326,000 after purchasing an additional 1,823,695 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Fortuna Silver Mines by 301.9% during the 4th quarter. Russell Investments Group Ltd. now owns 817,871 shares of the basic materials company’s stock worth $3,509,000 after purchasing an additional 614,383 shares during the period. Trexquant Investment LP increased its holdings in shares of Fortuna Silver Mines by 26.4% during the 4th quarter. Trexquant Investment LP now owns 1,459,620 shares of the basic materials company’s stock valued at $6,262,000 after purchasing an additional 305,076 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Fortuna Silver Mines by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 7,103 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Stock Performance

FSM opened at $6.47 on Wednesday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 80.82 and a beta of 1.22. The firm’s fifty day simple moving average is $5.39 and its two-hundred day simple moving average is $4.95. 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 Inc. has a 52-week low of $3.86 and a 52-week high of $6.76.

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

Analyst Ratings Changes

Several research firms recently commented on FSM. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. Scotiabank lifted their price target on Fortuna Silver Mines from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday. National Bank Financial upgraded Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Finally, CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Fortuna Silver Mines has an average rating of “Hold” and an average price target of $7.00.

Fortuna Silver Mines Company 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.