Fortuna Silver Mines (NYSE:FSM) Announces Quarterly Earnings Results

Fortuna Silver Mines (NYSE:FSM – Get Rating) (TSE:FVI) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02, Yahoo Finance reports. The business had revenue of $164.70 million for the quarter, compared to analyst estimates of $152.00 million. Fortuna Silver Mines had a return on equity of 4.63% and a net margin of 5.76%. During the same quarter in the prior year, the firm posted $0.10 earnings per share.

Fortuna Silver Mines Stock Up 3.4 %

NYSE:FSM traded up $0.11 on Friday, hitting $3.33. 2,440,140 shares of the company’s stock were exchanged, compared to its average volume of 3,854,075. The firm has a 50-day moving average price of $3.54 and a 200-day moving average price of $3.23. Fortuna Silver Mines has a 52 week low of $2.05 and a 52 week high of $4.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.93 and a quick ratio of 1.29. The company has a market cap of $966.60 million, a P/E ratio of 23.00 and a beta of 1.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSM. Dimensional Fund Advisors LP increased its stake in shares of Fortuna Silver Mines by 345.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,136,632 shares of the basic materials company’s stock worth $8,141,000 after purchasing an additional 1,657,274 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Fortuna Silver Mines by 446.2% during the second quarter. Renaissance Technologies LLC now owns 1,854,900 shares of the basic materials company’s stock worth $5,268,000 after purchasing an additional 1,515,300 shares during the period. Amundi increased its position in Fortuna Silver Mines by 914.8% during the fourth quarter. Amundi now owns 1,014,789 shares of the basic materials company’s stock worth $3,684,000 after buying an additional 914,789 shares during the last quarter. Deutsche Bank AG raised its stake in Fortuna Silver Mines by 176.3% in the fourth quarter. Deutsche Bank AG now owns 1,143,695 shares of the basic materials company’s stock valued at $4,289,000 after buying an additional 729,773 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Fortuna Silver Mines by 64.0% in the second quarter. Wells Fargo & Company MN now owns 1,080,165 shares of the basic materials company’s stock valued at $3,068,000 after buying an additional 421,653 shares during the last quarter. 26.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FSM has been the topic of several recent research reports. CIBC raised their price target on Fortuna Silver Mines from C$5.85 to C$6.00 in a research report on Tuesday, February 7th. StockNews.com assumed coverage on Fortuna Silver Mines in a research report on Thursday. They set a “sell” rating for the company. BMO Capital Markets cut their price target on shares of Fortuna Silver Mines from C$6.50 to C$6.25 in a research report on Tuesday, January 31st. Finally, National Bank Financial decreased their price objective on shares of Fortuna Silver Mines from C$6.00 to C$5.75 in a report on Tuesday, February 14th.

Fortuna Silver Mines Company Profile

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Fortuna Silver Mines, Inc engages in the exploration, extraction and processing of precious and base metal in Latin America. It operates through the following segments: Minera Bateas SAC (Bateas), Compania Minera Cuzcatlan SA de C.V. (Cuzcatian), Mansfield Minera SA (Mansfield), and Corporate. The Beates segment operates the Caylloma silver, lead, and zinc mine.