Fortuna Silver Mines Inc. (NYSE:FSM) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its stake in Fortuna Silver Mines Inc. (NYSE:FSMGet Rating) (TSE:FVI) by 2.7% in the first quarter, HoldingsChannel.com reports. The fund owned 256,684 shares of the basic materials company’s stock after selling 7,000 shares during the quarter. DAVENPORT & Co LLC’s holdings in Fortuna Silver Mines were worth $978,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fortuna Silver Mines by 63.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,250,857 shares of the basic materials company’s stock worth $24,446,000 after acquiring an additional 2,420,255 shares during the last quarter. Sprott Inc. raised its holdings in shares of Fortuna Silver Mines by 43.4% in the fourth quarter. Sprott Inc. now owns 2,997,134 shares of the basic materials company’s stock worth $11,703,000 after acquiring an additional 907,670 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Fortuna Silver Mines by 57.9% in the fourth quarter. Schroder Investment Management Group now owns 1,628,307 shares of the basic materials company’s stock worth $6,856,000 after acquiring an additional 597,017 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Fortuna Silver Mines by 3,300.2% in the fourth quarter. American Century Companies Inc. now owns 1,447,684 shares of the basic materials company’s stock worth $5,647,000 after acquiring an additional 1,405,108 shares during the last quarter. Finally, Sicart Associates LLC raised its holdings in shares of Fortuna Silver Mines by 32.6% in the fourth quarter. Sicart Associates LLC now owns 994,298 shares of the basic materials company’s stock worth $3,878,000 after acquiring an additional 244,400 shares during the last quarter. 27.03% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Price Performance

FSM stock opened at $2.54 on Monday. The stock has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $3.53. Fortuna Silver Mines Inc. has a 12-month low of $2.47 and a 12-month high of $5.52. The company has a current ratio of 2.07, a quick ratio of 1.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $741.62 million, a PE ratio of 11.55 and a beta of 1.29.

Fortuna Silver Mines (NYSE:FSMGet Rating) (TSE:FVI) last posted its quarterly earnings results on Wednesday, May 11th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Fortuna Silver Mines had a return on equity of 8.40% and a net margin of 8.79%. The firm had revenue of $182.33 million during the quarter. As a group, research analysts predict that Fortuna Silver Mines Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Pi Financial upgraded Fortuna Silver Mines from a “neutral” rating to a “buy” rating in a research note on Monday, June 6th. National Bank Financial dropped their target price on Fortuna Silver Mines from C$6.50 to C$4.50 in a research note on Thursday. BMO Capital Markets dropped their target price on Fortuna Silver Mines from C$7.00 to C$6.75 in a research note on Thursday, May 12th. Finally, StockNews.com upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating in a research note on Saturday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.19.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines Inc engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire.

Further Reading

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

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