Fortuna Silver Mines Inc. (NYSE:FSM) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,233,900 shares of the basic materials company’s stock after buying an additional 520,100 shares during the period. Renaissance Technologies LLC owned 1.38% of Fortuna Silver Mines worth $18,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. raised its holdings in Fortuna Silver Mines by 1,558.0% in the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock valued at $8,326,000 after acquiring an additional 1,823,695 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Fortuna Silver Mines by 63.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock valued at $9,305,000 after purchasing an additional 845,900 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Fortuna Silver Mines by 15.3% in the fourth quarter. American Century Companies Inc. now owns 5,038,830 shares of the basic materials company’s stock valued at $21,625,000 after purchasing an additional 668,590 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Fortuna Silver Mines by 301.9% during the fourth quarter. Russell Investments Group Ltd. now owns 817,871 shares of the basic materials company’s stock worth $3,509,000 after buying an additional 614,383 shares in the last quarter. Finally, Barclays PLC acquired a new position in Fortuna Silver Mines during the third quarter worth $2,227,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Silver Mines Stock Up 3.9 %

Shares of FSM opened at $6.48 on Monday. The company’s 50-day moving average price is $5.34 and its 200 day moving average price is $4.93. Fortuna Silver Mines Inc. has a 12-month low of $3.86 and a 12-month high of $6.65. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.99 billion, a P/E ratio of 80.95 and a beta of 1.22.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The company had revenue of $302.20 million during the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. On average, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Analyst Ratings Changes

FSM has been the subject of a number of recent research reports. Scotiabank cut their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a research note on Friday, March 21st. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.00.

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.