Sicart Associates LLC Takes $3.17 Million Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Sicart Associates LLC acquired a new position in shares of Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 684,883 shares of the basic materials company's stock, valued at approximately $3,171,000. Sicart Associates LLC owned approximately 0.22% of Fortuna Silver Mines at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FSM. Financial Management Professionals Inc. bought a new position in Fortuna Silver Mines during the third quarter valued at about $29,000. Banque Cantonale Vaudoise bought a new position in shares of Fortuna Silver Mines in the second quarter worth about $36,000. Perritt Capital Management Inc. increased its stake in shares of Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company's stock worth $39,000 after purchasing an additional 3,000 shares during the period. Private Advisor Group LLC bought a new position in shares of Fortuna Silver Mines in the third quarter worth about $50,000. Finally, Hohimer Wealth Management LLC bought a new position in shares of Fortuna Silver Mines in the second quarter worth about $54,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Stock Performance

FSM stock traded up $0.16 during trading on Tuesday, reaching $5.28. 7,070,312 shares of the stock were exchanged, compared to its average volume of 6,312,719. Fortuna Silver Mines Inc. has a twelve month low of $2.63 and a twelve month high of $6.36. The company has a market capitalization of $1.61 billion, a P/E ratio of -47.95 and a beta of 1.60. The stock has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.92. The company has a current ratio of 1.51, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last released its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.03). Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. The firm had revenue of $259.97 million for the quarter. As a group, sell-side analysts anticipate that Fortuna Silver Mines Inc. will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note 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.