Aigen Investment Management LP Sells 49,424 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Aigen Investment Management LP cut its position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 41.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,576 shares of the basic materials company’s stock after selling 49,424 shares during the quarter. Aigen Investment Management LP’s holdings in Fortuna Silver Mines were worth $294,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FSM. The Manufacturers Life Insurance Company grew its holdings in shares of Fortuna Silver Mines by 323.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock worth $5,005,000 after buying an additional 821,495 shares in the last quarter. Barclays PLC bought a new position in shares of Fortuna Silver Mines during the third quarter worth about $2,227,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Fortuna Silver Mines during the third quarter worth about $1,828,000. Public Employees Retirement System of Ohio bought a new position in shares of Fortuna Silver Mines during the third quarter worth about $1,765,000. Finally, De Lisle Partners LLP bought a new position in shares of Fortuna Silver Mines during the third quarter worth about $1,672,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Silver Mines Stock Up 5.9 %

NYSE:FSM opened at $4.91 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 61.32 and a beta of 1.50. Fortuna Silver Mines Inc. has a twelve month low of $3.16 and a twelve month high of $6.36. The stock’s 50 day moving average price is $4.65 and its two-hundred day moving average price is $4.71. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). The business had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. Equities research analysts expect that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cibc World Mkts lowered Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 18th. CIBC lowered Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research report on Tuesday, February 18th. Finally, Scotiabank lowered their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th.

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.