The Manufacturers Life Insurance Company Decreases Holdings in Fortuna Silver Mines Inc. (NYSE:FSM)

The Manufacturers Life Insurance Company reduced its position in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 45.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,274 shares of the basic materials company’s stock after selling 484,205 shares during the period. The Manufacturers Life Insurance Company owned about 0.19% of Fortuna Silver Mines worth $2,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Fortuna Silver Mines during the fourth quarter worth about $26,000. Dark Forest Capital Management LP acquired a new position in shares of Fortuna Silver Mines during the 4th quarter worth approximately $57,000. State of Tennessee Department of Treasury lifted its stake in Fortuna Silver Mines by 96.2% in the 4th quarter. State of Tennessee Department of Treasury now owns 94,711 shares of the basic materials company’s stock valued at $406,000 after buying an additional 46,428 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Fortuna Silver Mines by 24.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock valued at $53,000 after buying an additional 2,440 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Fortuna Silver Mines by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,402,119 shares of the basic materials company’s stock worth $36,043,000 after buying an additional 796,364 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FSM shares. Cibc World Mkts downgraded Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. National Bank Financial upgraded shares of Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st. CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Finally, Scotiabank upped their price objective on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th.

Fortuna Silver Mines Stock Performance

NYSE FSM opened at $5.69 on Friday. The business’s 50-day moving average price is $5.86 and its 200 day moving average price is $5.12. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a twelve month low of $3.86 and a twelve month high of $6.78. The company has a market capitalization of $1.75 billion, a PE ratio of 71.13 and a beta of 1.10.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The company had revenue of $290.15 million during the quarter, compared to analyst estimates of $291.00 million. On average, research analysts predict that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Fortuna Silver Mines Company 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.