Fortuna Silver Mines Inc. (NYSE:FSM) Stock Position Reduced by Sicart Associates LLC

Sicart Associates LLC decreased its stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 650,183 shares of the basic materials company’s stock after selling 34,700 shares during the quarter. Sicart Associates LLC’s holdings in Fortuna Silver Mines were worth $2,789,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth $29,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the 4th quarter worth about $45,000. Private Advisor Group LLC acquired a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at about $50,000. Choreo LLC bought a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at approximately $59,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fortuna Silver Mines in the second quarter worth approximately $92,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Price Performance

NYSE FSM opened at $4.30 on Friday. Fortuna Silver Mines Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The stock’s 50-day moving average is $4.62 and its two-hundred day moving average is $4.73. The firm has a market cap of $1.32 billion, a P/E ratio of 53.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

Analysts Set New Price Targets

Separately, Scotiabank reduced their target price on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday.

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.