BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 282,723 Shares of Fortuna Silver Mines Inc (NYSE:FSM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 65.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,413 shares of the basic materials company’s stock after selling 282,723 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.09% of Fortuna Silver Mines worth $424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Fortuna Silver Mines by 29.9% in the 2nd quarter. Renaissance Technologies LLC now owns 8,748,331 shares of the basic materials company’s stock worth $24,933,000 after purchasing an additional 2,015,500 shares in the last quarter. Morgan Stanley raised its holdings in Fortuna Silver Mines by 86.3% in the 2nd quarter. Morgan Stanley now owns 5,960,860 shares of the basic materials company’s stock worth $16,988,000 after purchasing an additional 2,761,876 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in Fortuna Silver Mines by 13.5% in the 2nd quarter. Ingalls & Snyder LLC now owns 3,060,550 shares of the basic materials company’s stock worth $8,723,000 after purchasing an additional 364,750 shares in the last quarter. Sprott Inc. raised its holdings in Fortuna Silver Mines by 57.0% in the 2nd quarter. Sprott Inc. now owns 2,624,164 shares of the basic materials company’s stock worth $9,464,000 after purchasing an additional 953,126 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Fortuna Silver Mines by 2,524.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,403,156 shares of the basic materials company’s stock worth $4,055,000 after purchasing an additional 1,349,685 shares in the last quarter. Institutional investors and hedge funds own 37.09% of the company’s stock.

Several research analysts have commented on the stock. ValuEngine upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Canaccord Genuity upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Friday, September 13th. Scotiabank upgraded shares of Fortuna Silver Mines from a “sector perform” rating to a “sector outperform” rating and set a $5.00 price objective for the company in a report on Tuesday, September 10th. Finally, Zacks Investment Research lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $5.00.

NYSE:FSM opened at $3.08 on Friday. The firm’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.27. The company has a market capitalization of $512.13 million, a PE ratio of 12.83 and a beta of 0.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.47. Fortuna Silver Mines Inc has a 1-year low of $2.39 and a 1-year high of $4.59.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 7th. The basic materials company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $67.91 million for the quarter. Fortuna Silver Mines had a net margin of 8.75% and a return on equity of 4.43%. Equities analysts anticipate that Fortuna Silver Mines Inc will post 0.16 EPS for the current fiscal year.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

Featured Story: What is a price target?

Want to see what other hedge funds are holding FSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI).

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

Receive News & Ratings for Fortuna Silver Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortuna Silver Mines and related companies with MarketBeat.com's FREE daily email newsletter.