Fortuna Silver Mines Inc. (NYSE:FSM) Holdings Cut by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 78.9% during the 4th quarter, HoldingsChannel reports. The fund owned 20,193 shares of the basic materials company’s stock after selling 75,649 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Fortuna Silver Mines were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FSM. Tidal Investments LLC grew its stake in Fortuna Silver Mines by 1.8% in the third quarter. Tidal Investments LLC now owns 5,377,373 shares of the basic materials company’s stock valued at $24,897,000 after purchasing an additional 92,764 shares in the last quarter. Euro Pacific Asset Management LLC lifted its holdings in shares of Fortuna Silver Mines by 1.2% during the 4th quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company’s stock valued at $18,792,000 after buying an additional 50,402 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Fortuna Silver Mines by 63.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock valued at $9,305,000 after buying an additional 845,900 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Fortuna Silver Mines by 323.4% in the third quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock worth $5,005,000 after buying an additional 821,495 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Fortuna Silver Mines by 41.9% during the third quarter. National Bank of Canada FI now owns 652,539 shares of the basic materials company’s stock valued at $3,022,000 after acquiring an additional 192,552 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Trading Down 3.9 %

NYSE:FSM opened at $5.85 on Friday. The company’s 50 day moving average is $4.88 and its 200-day moving average is $4.77. 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 12 month low of $3.43 and a 12 month high of $6.36. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 73.07 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The firm 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%. Equities analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSM. Scotiabank decreased their target price on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Cibc World Mkts downgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. Finally, CIBC cut Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th.

About Fortuna Silver Mines

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.