Point72 Asset Management L.P. Takes $2.08 Million Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Point72 Asset Management L.P. bought a new stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 483,715 shares of the basic materials company’s stock, valued at approximately $2,075,000. Point72 Asset Management L.P. owned about 0.16% of Fortuna Silver Mines as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Fortuna Silver Mines by 10.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after purchasing an additional 2,000 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 2,440 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter valued at $26,000. Geode Capital Management LLC lifted its holdings in shares of Fortuna Silver Mines by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 7,103 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Fortuna Silver Mines by 2.7% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock valued at $1,233,000 after purchasing an additional 7,644 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Scotiabank boosted 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 report on Monday, April 14th. Finally, CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th.

Fortuna Silver Mines Price Performance

FSM opened at $5.66 on Wednesday. The stock has a fifty day moving average price of $5.94 and a 200 day moving average price of $5.13. 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 1 year low of $3.86 and a 1 year high of $6.78. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 70.76 and a beta of 1.10.

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

About Fortuna Silver Mines

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.