November 10, 2019 at 2:57 pm

Fortuna Silver Mines Inc (NYSE:FSM) Shares Bought by Gabelli Funds LLC

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Gabelli Funds LLC grew its holdings in shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 18.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,100,000 shares of the basic materials company’s stock after acquiring an additional 175,000 shares during the quarter. Gabelli Funds LLC’s holdings in Fortuna Silver Mines were worth $3,399,000 as of its most recent SEC filing.

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A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in Fortuna Silver Mines by 6.8% during the 2nd quarter. Vanguard Group Inc. now owns 85,364 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 5,399 shares during the period. CoreCommodity Management LLC boosted its position in Fortuna Silver Mines by 16.2% during the 2nd quarter. CoreCommodity Management LLC now owns 47,714 shares of the basic materials company’s stock worth $136,000 after acquiring an additional 6,654 shares during the period. Newfoundland Capital Management acquired a new position in Fortuna Silver Mines during the 2nd quarter worth $29,000. Swiss National Bank boosted its position in Fortuna Silver Mines by 3.8% during the 2nd quarter. Swiss National Bank now owns 299,600 shares of the basic materials company’s stock worth $853,000 after acquiring an additional 10,900 shares during the period. Finally, Brookstone Capital Management acquired a new position in Fortuna Silver Mines during the 3rd quarter worth $35,000. Institutional investors own 36.99% of the company’s stock.

Shares of FSM traded down $0.04 during midday trading on Friday, reaching $3.08. The stock had a trading volume of 2,384,167 shares, compared to its average volume of 1,943,170. Fortuna Silver Mines Inc has a 52 week low of $2.39 and a 52 week high of $4.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.66 and a quick ratio of 1.47. The firm’s 50 day moving average price is $3.19 and its 200-day moving average price is $3.24. The company has a market capitalization of $484.88 million, a P/E ratio of 12.83 and a beta of 0.28.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Fortuna Silver Mines had a return on equity of 4.43% and a net margin of 8.75%. The company had revenue of $67.91 million for the quarter. On average, equities analysts forecast that Fortuna Silver Mines Inc will post 0.18 earnings per share for the current year.

A number of research analysts have issued reports on FSM shares. Zacks Investment Research upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Wednesday, October 23rd. Canaccord Genuity upgraded Fortuna Silver Mines from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research report on Friday, September 13th. ValuEngine lowered Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Scotiabank upgraded Fortuna Silver Mines from a “sector perform” rating to a “sector outperform” rating and set a $5.00 price target for the company in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Fortuna Silver Mines has a consensus rating of “Buy” and a consensus price target of $4.67.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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Institutional Ownership by Quarter for Fortuna Silver Mines (NYSE:FSM)

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