CIBC Asset Management Inc Acquires 8,633 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

CIBC Asset Management Inc grew its holdings in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 384,567 shares of the basic materials company’s stock after acquiring an additional 8,633 shares during the quarter. CIBC Asset Management Inc owned about 0.13% of Fortuna Silver Mines worth $1,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FSM. Savant Capital LLC lifted its position in Fortuna Silver Mines by 99.3% during the fourth quarter. Savant Capital LLC now owns 47,824 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 23,824 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Fortuna Silver Mines by 2.7% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock valued at $1,233,000 after buying an additional 7,644 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of Fortuna Silver Mines during the 4th quarter worth $68,000. Euro Pacific Asset Management LLC grew its position in Fortuna Silver Mines by 1.2% in the fourth quarter. Euro Pacific Asset Management LLC now owns 4,365,085 shares of the basic materials company’s stock worth $18,792,000 after acquiring an additional 50,402 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Fortuna Silver Mines by 61.8% in the fourth quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock valued at $95,000 after acquiring an additional 8,484 shares during the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Stock Performance

NYSE FSM opened at $4.43 on Friday. The company has a 50-day simple moving average of $4.64 and a two-hundred day simple moving average of $4.70. Fortuna Silver Mines Inc. has a 12-month low of $2.63 and a 12-month high of $6.36. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 55.32 and a beta of 1.56. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

FSM has been the subject of several research analyst reports. Scotiabank dropped their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. CIBC downgraded Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday. Finally, Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

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.