Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in Fortuna Silver Mines Inc. (NYSE:FSM)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 19.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324,800 shares of the basic materials company's stock after selling 323,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.42% of Fortuna Silver Mines worth $6,161,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of Fortuna Silver Mines during the 3rd quarter valued at about $128,000. Aigen Investment Management LP boosted its stake in shares of Fortuna Silver Mines by 100.3% during the third quarter. Aigen Investment Management LP now owns 118,000 shares of the basic materials company's stock valued at $548,000 after purchasing an additional 59,101 shares during the period. Versor Investments LP boosted its stake in shares of Fortuna Silver Mines by 36.9% during the third quarter. Versor Investments LP now owns 106,400 shares of the basic materials company's stock valued at $495,000 after purchasing an additional 28,700 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 during the last quarter. Finally, Sicart Associates LLC purchased a new stake in Fortuna Silver Mines during the 3rd quarter valued at $3,171,000. Institutional investors own 33.80% of the company's stock.

Fortuna Silver Mines Stock Performance

Shares of Fortuna Silver Mines stock traded down $0.03 during trading on Friday, hitting $4.97. 8,412,479 shares of the company's stock traded hands, compared to its average volume of 7,344,392. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. Fortuna Silver Mines Inc. has a 1 year low of $2.63 and a 1 year high of $6.36. The stock has a market capitalization of $1.56 billion, a P/E ratio of 62.13 and a beta of 1.58. The business has a 50-day simple moving average of $4.85 and a 200-day simple moving average of $4.94.

Analysts Set New Price Targets

Separately, Scotiabank increased their price objective on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Monday, August 19th.

Fortuna Silver Mines 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.