Intact Investment Management Inc. cut its holdings in Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,000 shares of the basic materials company’s stock after selling 20,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Fortuna Silver Mines were worth $2,639,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new position in shares of Fortuna Silver Mines during the 2nd quarter valued at $330,000. Montrusco Bolton Investments Inc. raised its holdings in Fortuna Silver Mines by 10.1% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,358,960 shares of the basic materials company’s stock worth $19,019,000 after purchasing an additional 398,357 shares during the period. Vanguard Capital Wealth Advisors bought a new position in Fortuna Silver Mines in the 2nd quarter worth $144,000. Van ECK Associates Corp raised its holdings in Fortuna Silver Mines by 12.0% in the 2nd quarter. Van ECK Associates Corp now owns 20,268,868 shares of the basic materials company’s stock worth $115,260,000 after purchasing an additional 2,171,283 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Fortuna Silver Mines in the 2nd quarter worth $239,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. ValuEngine raised Fortuna Silver Mines from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $6.25 price target for the company in a research note on Wednesday, July 11th. Finally, TheStreet lowered Fortuna Silver Mines from a “b” rating to a “c+” rating in a research report on Tuesday, October 16th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.25.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $73.67 million during the quarter. Fortuna Silver Mines had a return on equity of 8.57% and a net margin of 24.48%. Analysts anticipate that Fortuna Silver Mines Inc will post 0.21 earnings per share for the current 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. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.
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