Confluence Investment Management LLC lowered its position in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,292 shares of the basic materials company’s stock after selling 1,153 shares during the period. Confluence Investment Management LLC’s holdings in Fortuna Silver Mines were worth $114,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Fortuna Silver Mines by 22.1% in the first quarter. Van ECK Associates Corp now owns 31,669,037 shares of the basic materials company’s stock valued at $164,640,000 after buying an additional 5,729,585 shares during the period. Montrusco Bolton Investments Inc. raised its position in shares of Fortuna Silver Mines by 29.6% in the first quarter. Montrusco Bolton Investments Inc. now owns 11,700,097 shares of the basic materials company’s stock worth $60,709,000 after buying an additional 2,671,477 shares during the period. Bank of Montreal Can raised its position in shares of Fortuna Silver Mines by 172.8% in the first quarter. Bank of Montreal Can now owns 474,435 shares of the basic materials company’s stock worth $2,467,000 after buying an additional 300,553 shares during the period. TD Asset Management Inc. boosted its position in shares of Fortuna Silver Mines by 28.9% in the first quarter. TD Asset Management Inc. now owns 1,107,749 shares of the basic materials company’s stock valued at $5,748,000 after buying an additional 248,591 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Fortuna Silver Mines by 15.2% in the first quarter. Global X Management Co. LLC now owns 1,763,588 shares of the basic materials company’s stock valued at $9,151,000 after buying an additional 232,140 shares in the last quarter. Hedge funds and other institutional investors own 50.44% of the company’s stock.

Fortuna Silver Mines Inc. (FSM) traded up 0.2204% during midday trading on Monday, hitting $4.9108. The stock had a trading volume of 1,072,264 shares. Fortuna Silver Mines Inc. has a 52 week low of $4.11 and a 52 week high of $9.75. The company has a market capitalization of $781.91 million, a PE ratio of 25.5771 and a beta of 0.27. The company’s 50-day moving average price is $4.83 and its 200 day moving average price is $5.29.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Monday, May 15th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.01. Fortuna Silver Mines had a return on equity of 9.58% and a net margin of 12.88%. The company had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $59 million. The company’s revenue was up 56.5% compared to the same quarter last year. On average, analysts expect that Fortuna Silver Mines Inc. will post $0.31 EPS for the current year.

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A number of equities analysts recently weighed in on FSM shares. Scotiabank reiterated a “sector perform” rating and issued a $9.00 price target on shares of Fortuna Silver Mines in a research report on Wednesday, April 19th. UBS AG raised Fortuna Silver Mines from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, April 5th. Zacks Investment Research downgraded Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. National Bank Financial reaffirmed an “outperform” rating on shares of Fortuna Silver Mines in a research report on Monday, May 15th. Finally, BMO Capital Markets raised Fortuna Silver Mines from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $10.75 to $9.00 in a report on Friday, March 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $8.94.

About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

Institutional Ownership by Quarter for Fortuna Silver Mines (NYSE:FSM)

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