Northwest & Ethical Investments L.P. Sells 75,649 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Northwest & Ethical Investments L.P. cut its stake in Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 78.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,193 shares of the basic materials company's stock after selling 75,649 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Fortuna Silver Mines were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in shares of Fortuna Silver Mines by 1.8% during the third quarter. Tidal Investments LLC now owns 5,377,373 shares of the basic materials company's stock worth $24,897,000 after buying an additional 92,764 shares in the last quarter. Euro Pacific Asset Management LLC increased its position in Fortuna Silver Mines by 1.2% during the fourth quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company's stock worth $18,792,000 after acquiring an additional 50,402 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Fortuna Silver Mines by 63.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company's stock worth $9,305,000 after purchasing an additional 845,900 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Fortuna Silver Mines by 323.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company's stock valued at $5,005,000 after purchasing an additional 821,495 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Fortuna Silver Mines by 41.9% during the 3rd quarter. National Bank of Canada FI now owns 652,539 shares of the basic materials company's stock worth $3,022,000 after purchasing an additional 192,552 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FSM shares. National Bank Financial upgraded shares of Fortuna Silver Mines to a "hold" rating in a research report on Friday, March 21st. CIBC downgraded Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday, February 18th. Cibc World Mkts cut Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 18th. Finally, Scotiabank cut their price objective on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.00.

Fortuna Silver Mines Price Performance

Shares of FSM stock traded up $0.14 during trading hours on Thursday, reaching $6.24. The company's stock had a trading volume of 15,772,799 shares, compared to its average volume of 8,807,570. Fortuna Silver Mines Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $6.36. The firm's 50 day simple moving average is $4.98 and its 200-day simple moving average is $4.81. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 77.98 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last released its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million during the quarter, compared to the consensus estimate of $301.65 million. Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. Sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

About Fortuna Silver Mines

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.