Van ECK Associates Corp Sells 3,235,875 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Van ECK Associates Corp lowered its position in Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,327,958 shares of the basic materials company's stock after selling 3,235,875 shares during the period. Van ECK Associates Corp owned about 8.90% of Fortuna Silver Mines worth $117,236,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in Fortuna Silver Mines during the 3rd quarter worth about $29,000. SeaCrest Wealth Management LLC acquired a new stake in Fortuna Silver Mines in the 4th quarter valued at about $45,000. Private Advisor Group LLC acquired a new stake in Fortuna Silver Mines in the 3rd quarter valued at about $50,000. Kingswood Wealth Advisors LLC acquired a new stake in Fortuna Silver Mines in the 4th quarter valued at about $68,000. Finally, SG Americas Securities LLC lifted its stake in Fortuna Silver Mines by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company's stock valued at $95,000 after purchasing an additional 8,484 shares during the last quarter. Institutional investors own 33.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 15th.

Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock traded down $0.25 during mid-day trading on Monday, reaching $5.14. The company had a trading volume of 15,470,582 shares, compared to its average volume of 12,419,509. The company has a market cap of $1.58 billion, a P/E ratio of 64.20 and a beta of 1.56. The business has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $4.70. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $6.36.

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.