Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $5.15, but opened at $5.35. Fortuna Silver Mines shares last traded at $5.28, with a volume of 1,049,683 shares.
Wall Street Analysts Forecast Growth
Separately, Scotiabank upped their price objective on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th.
View Our Latest Research Report on Fortuna Silver Mines
Fortuna Silver Mines Stock Up 1.7 %
Fortuna Silver Mines (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share (EPS) 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 company had revenue of $259.97 million during the quarter. Equities research analysts anticipate that Fortuna Silver Mines Inc. will post 0.47 EPS for the current fiscal year.
Hedge Funds Weigh In On Fortuna Silver Mines
Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in Fortuna Silver Mines by 12,560.3% during the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock valued at $26,456,000 after buying an additional 5,375,811 shares in the last quarter. Tidal Investments LLC raised its position in shares of Fortuna Silver Mines by 11,698.0% during the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after acquiring an additional 4,807,537 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after purchasing an additional 3,467,562 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Fortuna Silver Mines by 94.9% in the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after purchasing an additional 2,507,249 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Fortuna Silver Mines by 5.0% in the first quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company’s stock worth $126,896,000 after purchasing an additional 1,624,470 shares during the period. Institutional investors own 33.80% of the company’s stock.
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.
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