Graham Capital Management L.P. Sells 80,337 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Graham Capital Management L.P. lessened its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 53.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 69,498 shares of the basic materials company’s stock after selling 80,337 shares during the period. Graham Capital Management L.P.’s holdings in Fortuna Silver Mines were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its holdings in Fortuna Silver Mines by 2.4% in the fourth quarter. Deutsche Bank AG now owns 883,993 shares of the basic materials company’s stock worth $3,792,000 after buying an additional 20,807 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Fortuna Silver Mines by 17.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company’s stock worth $35,779,000 after acquiring an additional 1,219,864 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Fortuna Silver Mines by 13.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,975,007 shares of the basic materials company’s stock worth $8,473,000 after acquiring an additional 226,807 shares during the last quarter. Bank of America Corp DE lifted its position in Fortuna Silver Mines by 15.4% in the 4th quarter. Bank of America Corp DE now owns 927,264 shares of the basic materials company’s stock valued at $3,978,000 after acquiring an additional 123,720 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Fortuna Silver Mines during the 4th quarter valued at $801,000. Institutional investors own 33.80% of the company’s stock.

Analysts Set New Price Targets

FSM has been the subject of a number of research analyst reports. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. Scotiabank lifted their price objective on Fortuna Silver Mines from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Monday, April 14th. 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, National Bank Financial raised shares of Fortuna Silver Mines to a “hold” rating in a report on Friday, March 21st.

Fortuna Silver Mines Price Performance

Shares of FSM opened at $5.39 on Friday. The firm has a fifty day simple moving average of $5.93 and a two-hundred day simple moving average of $5.12. The firm has a market cap of $1.65 billion, a PE ratio of 67.32 and a beta of 1.10. 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.

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