Profund Advisors LLC Sells 3,462 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Profund Advisors LLC trimmed its holdings in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 13.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,109 shares of the basic materials company’s stock after selling 3,462 shares during the period. Profund Advisors LLC’s holdings in Fortuna Silver Mines were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Perritt Capital Management Inc. lifted its position in shares of Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after buying an additional 3,000 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fortuna Silver Mines in the second quarter valued at approximately $36,000. TD Asset Management Inc lifted its position in shares of Fortuna Silver Mines by 0.9% in the second quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company’s stock valued at $4,054,000 after buying an additional 7,542 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of Fortuna Silver Mines by 11.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company’s stock valued at $360,000 after buying an additional 9,900 shares during the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Fortuna Silver Mines in the second quarter valued at approximately $54,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price target on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

Fortuna Silver Mines Stock Performance

NYSE:FSM opened at $4.81 on Monday. The stock has a market cap of $1.47 billion, a P/E ratio of -43.73 and a beta of 1.59. The stock has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $4.78. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a 1-year low of $2.58 and a 1-year high of $6.36.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. Research analysts anticipate that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current year.

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.