The Manufacturers Life Insurance Company Grows Stock Position in Fortuna Silver Mines Inc. (NYSE:FSM)

The Manufacturers Life Insurance Company increased its holdings in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 1.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 253,984 shares of the basic materials company’s stock after acquiring an additional 3,392 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Fortuna Silver Mines worth $1,240,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at about $36,000. Perritt Capital Management Inc. grew its position in shares of Fortuna Silver Mines by 40.0% during the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 3,000 shares during the period. Hohimer Wealth Management LLC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at about $54,000. Choreo LLC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at about $59,000. Finally, Corundum Trust Company INC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at about $73,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective 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 Trading Up 1.2 %

Shares of Fortuna Silver Mines stock opened at $4.76 on Friday. The stock has a market cap of $1.49 billion, a P/E ratio of 475.98 and a beta of 1.60. The stock’s 50 day simple moving average is $4.62 and its 200-day simple moving average is $4.85. Fortuna Silver Mines Inc. has a 1-year low of $2.63 and a 1-year high of $6.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results 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 for the quarter. Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. Analysts predict that Fortuna Silver Mines Inc. will post 0.47 EPS for the current fiscal year.

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.