CIBC Asset Management Inc Sells 3,733 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

CIBC Asset Management Inc trimmed its stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 375,934 shares of the basic materials company’s stock after selling 3,733 shares during the period. CIBC Asset Management Inc’s holdings in Fortuna Silver Mines were worth $1,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its position in shares of Fortuna Silver Mines by 12,560.3% in the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock valued at $26,456,000 after purchasing an additional 5,375,811 shares during the period. Tidal Investments LLC raised its holdings in Fortuna Silver Mines by 11,698.0% in the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock worth $18,081,000 after acquiring an additional 4,807,537 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Fortuna Silver Mines by 165.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after acquiring an additional 3,467,562 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Fortuna Silver Mines by 94.9% during the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after acquiring an additional 2,507,249 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Fortuna Silver Mines by 28.2% in the second quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after purchasing an additional 1,065,370 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Trading Down 0.7 %

Shares of FSM stock opened at $4.83 on Wednesday. The firm has a market capitalization of $1.51 billion, a P/E ratio of 60.32 and a beta of 1.58. Fortuna Silver Mines Inc. has a 1 year low of $2.63 and a 1 year high of $6.36. The firm’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $4.94. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

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

Fortuna Silver Mines 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.