Sprott Inc. Sells 218,625 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Sprott Inc. trimmed its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,292,796 shares of the basic materials company’s stock after selling 218,625 shares during the quarter. Sprott Inc. owned approximately 0.42% of Fortuna Silver Mines worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter worth approximately $1,347,000. Van ECK Associates Corp boosted its stake in Fortuna Silver Mines by 2.6% in the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock worth $141,511,000 after purchasing an additional 788,703 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Fortuna Silver Mines by 616.1% during the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 218,100 shares during the last quarter. Barclays PLC acquired a new stake in shares of Fortuna Silver Mines in the third quarter valued at $2,227,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Fortuna Silver Mines in the third quarter valued at about $1,765,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FSM shares. Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Finally, Scotiabank reduced their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Fortuna Silver Mines currently has an average rating of “Hold” and an average target price of $6.00.

Fortuna Silver Mines Stock Performance

Fortuna Silver Mines stock opened at $4.37 on Wednesday. The company has a market cap of $1.34 billion, a PE ratio of 54.57 and a beta of 1.56. 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 $2.63 and a 1 year high of $6.36. The company’s 50-day moving average is $4.63 and its two-hundred day moving average is $4.71.

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.