Fortuna Silver Mines (NYSE:FSM) Shares Gap Down – Here’s What Happened

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) gapped down before the market opened on Monday . The stock had previously closed at $4.97, but opened at $4.72. Fortuna Silver Mines shares last traded at $4.78, with a volume of 431,812 shares changing hands.

Analyst Ratings Changes

Separately, Scotiabank upped their price objective on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th.

Fortuna Silver Mines Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. The stock has a market cap of $1.52 billion, a P/E ratio of 62.13 and a beta of 1.58. The stock has a 50-day moving average price of $4.85 and a 200-day moving average price of $4.94.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of large investors have recently made changes to their positions in FSM. Van ECK Associates Corp grew its holdings in shares of Fortuna Silver Mines by 2.6% during the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after buying an additional 788,703 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fortuna Silver Mines by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock valued at $29,865,000 after purchasing an additional 346,008 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Fortuna Silver Mines by 165.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock valued at $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Acadian Asset Management LLC lifted its position 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 purchasing an additional 5,375,811 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Fortuna Silver Mines by 1.8% in the 3rd 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. 33.80% of the stock is currently owned by institutional investors.

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.