Van ECK Associates Corp Purchases 788,703 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Van ECK Associates Corp boosted its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,563,833 shares of the basic materials company's stock after buying an additional 788,703 shares during the period. Van ECK Associates Corp owned approximately 9.98% of Fortuna Silver Mines worth $141,511,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FSM. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Fortuna Silver Mines in the first quarter worth about $78,000. Daiwa Securities Group Inc. bought a new position in shares of Fortuna Silver Mines during the 1st quarter valued at approximately $77,000. SG Americas Securities LLC raised its holdings in Fortuna Silver Mines by 1,348.1% during the 1st quarter. SG Americas Securities LLC now owns 307,368 shares of the basic materials company's stock valued at $1,146,000 after buying an additional 286,143 shares during the period. Russell Investments Group Ltd. lifted its position in Fortuna Silver Mines by 64.1% in the first quarter. Russell Investments Group Ltd. now owns 72,518 shares of the basic materials company's stock worth $270,000 after buying an additional 28,325 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Fortuna Silver Mines during the first quarter worth $159,000. Hedge funds and other institutional investors own 33.80% of the company's stock.

Fortuna Silver Mines Trading Down 1.4 %

Shares of NYSE:FSM traded down $0.07 on Friday, hitting $4.90. 7,232,235 shares of the company's stock were exchanged, compared to its average volume of 7,475,748. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 490.49 and a beta of 1.58. Fortuna Silver Mines Inc. has a 12 month low of $2.63 and a 12 month high of $6.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00. The business's 50 day simple moving average is $4.77 and its two-hundred day simple moving average is $4.93.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings data 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). The company had revenue of $259.97 million for the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. Analysts anticipate that Fortuna Silver Mines Inc. will post 0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their target price on shares of 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 Company 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.