Trexquant Investment LP Buys New Shares in Fortuna Silver Mines Inc. (NYSE:FSM)

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Trexquant Investment LP bought a new stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,203 shares of the basic materials company’s stock, valued at approximately $491,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSM. Aigen Investment Management LP boosted its holdings in Fortuna Silver Mines by 958.6% in the third quarter. Aigen Investment Management LP now owns 116,062 shares of the basic materials company’s stock valued at $738,000 after purchasing an additional 105,098 shares during the last quarter. Cardan Capital Partners LLC boosted its holdings in Fortuna Silver Mines by 42.8% in the third quarter. Cardan Capital Partners LLC now owns 26,700 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 8,000 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Fortuna Silver Mines by 80.6% in the third quarter. CIBC Asset Management Inc now owns 282,860 shares of the basic materials company’s stock valued at $1,798,000 after purchasing an additional 126,227 shares during the last quarter. Signaturefd LLC purchased a new stake in Fortuna Silver Mines in the third quarter valued at $197,000. Finally, Chase Investment Counsel Corp purchased a new stake in Fortuna Silver Mines in the third quarter valued at $443,000. 37.85% of the stock is currently owned by hedge funds and other institutional investors.

FSM opened at $6.43 on Friday. Fortuna Silver Mines Inc. has a twelve month low of $1.47 and a twelve month high of $8.10. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $6.94 and a 200 day moving average price of $5.89. The company has a market cap of $1.18 billion, a PE ratio of 643.64 and a beta of 1.27.

Several research firms have commented on FSM. Pi Financial raised shares of Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a report on Friday, August 28th. Laurentian reissued a “buy” rating and set a $11.35 target price on shares of Fortuna Silver Mines in a research note on Tuesday, August 18th. Zacks Investment Research lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 11th. Canaccord Genuity lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Monday, November 16th. Finally, BMO Capital Markets increased their target price on shares of Fortuna Silver Mines from $8.25 to $11.25 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Fortuna Silver Mines presently has an average rating of “Hold” and an average price target of $8.97.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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Institutional Ownership by Quarter for Fortuna Silver Mines (NYSE:FSM)

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