Van ECK Associates Corp Buys 2,361,636 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Van ECK Associates Corp raised its stake in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,396,826 shares of the basic materials company’s stock after purchasing an additional 2,361,636 shares during the period. Van ECK Associates Corp owned 10.57% of Fortuna Silver Mines worth $125,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in Fortuna Silver Mines by 26.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 36,540 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 7,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Fortuna Silver Mines by 19.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 9,837 shares during the period. Sicart Associates LLC increased its position in shares of Fortuna Silver Mines by 1.6% during the third quarter. Sicart Associates LLC now owns 766,125 shares of the basic materials company’s stock worth $2,084,000 after acquiring an additional 12,047 shares during the period. Rathbones Group PLC purchased a new position in shares of Fortuna Silver Mines during the third quarter worth approximately $34,000. Finally, Swiss National Bank increased its position in shares of Fortuna Silver Mines by 2.1% during the third quarter. Swiss National Bank now owns 645,030 shares of the basic materials company’s stock worth $1,772,000 after acquiring an additional 13,000 shares during the period. Institutional investors own 33.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSM shares. StockNews.com lowered shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Scotiabank lifted their price objective on shares of Fortuna Silver Mines from $4.00 to $4.75 and gave the company a “sector perform” rating in a report on Monday, April 8th. Finally, TheStreet lowered shares of Fortuna Silver Mines from a “c-” rating to a “d” rating in a report on Thursday, March 7th.

Fortuna Silver Mines Stock Down 1.7 %

FSM traded down $0.08 during trading on Tuesday, hitting $4.61. The stock had a trading volume of 2,360,107 shares, compared to its average volume of 5,644,767. The company has a market capitalization of $1.41 billion, a PE ratio of -28.94 and a beta of 1.63. Fortuna Silver Mines Inc. has a twelve month low of $2.58 and a twelve month high of $4.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.89 and a current ratio of 1.37. The stock has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $3.52.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, March 6th. The basic materials company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $265.31 million during the quarter. Fortuna Silver Mines had a negative net margin of 5.99% and a positive return on equity of 5.03%. On average, research analysts predict that Fortuna Silver Mines Inc. will post 0.08 earnings per share for the current year.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.