Ramsey Quantitative Systems increased its position in shares of Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 349.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,306 shares of the basic materials company’s stock after buying an additional 22,780 shares during the period. Ramsey Quantitative Systems’ holdings in Fortuna Silver Mines were worth $128,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Capital Wealth Advisors purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth approximately $144,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth approximately $239,000. BlackRock Inc. increased its stake in shares of Fortuna Silver Mines by 124.1% during the second quarter. BlackRock Inc. now owns 32,705 shares of the basic materials company’s stock worth $186,000 after buying an additional 18,114 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth approximately $215,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth approximately $330,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.
Several brokerages have commented on FSM. ValuEngine upgraded shares of Fortuna Silver Mines from a “strong sell” rating to a “sell” rating in a research note on Thursday. TheStreet lowered shares of Fortuna Silver Mines from a “b” rating to a “c+” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Fortuna Silver Mines from a “sell” rating to a “hold” rating and set a $6.25 price target on the stock in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.25.
Shares of Fortuna Silver Mines stock opened at $4.15 on Friday. The company has a market capitalization of $649.27 million, a price-to-earnings ratio of 13.39 and a beta of 0.07. Fortuna Silver Mines Inc has a 52 week low of $3.53 and a 52 week high of $6.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.75 and a current ratio of 5.10.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $73.67 million during the quarter. Fortuna Silver Mines had a net margin of 24.48% and a return on equity of 8.57%. Analysts anticipate that Fortuna Silver Mines Inc will post 0.21 EPS for the current fiscal year.
About Fortuna Silver Mines
Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. It explores for silver, gold, lead, and zinc deposits. The company holds interests in the Caylloma mine located in southern Peru; and the San Jose mine situated in the state of Oaxaca in southern Mexico.
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