Fortuna Silver Mines (NYSE:FSM) Stock Price Down 4.5%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price dropped 4.5% during mid-day trading on Friday . The company traded as low as $4.84 and last traded at $4.84. Approximately 2,925,585 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 6,151,640 shares. The stock had previously closed at $5.07.

Analyst Ratings Changes

Separately, Scotiabank lifted their target price 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 Stock Performance

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 firm has a fifty day moving average price of $4.63 and a 200 day moving average price of $4.75. The firm has a market cap of $1.47 billion, a PE ratio of -46.14 and a beta of 1.59.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate 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 company had revenue of $259.97 million for the quarter. As a group, equities research analysts expect that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Silver Mines

Several institutional investors and hedge funds have recently bought and sold shares of FSM. BNP Paribas Financial Markets raised its holdings in Fortuna Silver Mines by 133,433.1% in the 4th quarter. BNP Paribas Financial Markets now owns 161,575 shares of the basic materials company’s stock valued at $624,000 after buying an additional 161,454 shares during the period. Dimensional Fund Advisors LP increased its stake in Fortuna Silver Mines by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock worth $19,309,000 after purchasing an additional 553,722 shares during the period. TD Asset Management Inc increased its stake in Fortuna Silver Mines by 3.6% during the fourth quarter. TD Asset Management Inc now owns 795,375 shares of the basic materials company’s stock worth $3,076,000 after purchasing an additional 27,767 shares during the period. CIBC Asset Management Inc increased its stake in Fortuna Silver Mines by 8.2% during the fourth quarter. CIBC Asset Management Inc now owns 300,025 shares of the basic materials company’s stock worth $1,158,000 after purchasing an additional 22,811 shares during the period. Finally, Sprott Inc. increased its stake in Fortuna Silver Mines by 10.0% during the fourth quarter. Sprott Inc. now owns 2,379,070 shares of the basic materials company’s stock worth $9,171,000 after purchasing an additional 217,036 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

About Fortuna Silver Mines

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.