Klein Pavlis & Peasley Financial Inc. Decreases Stake in Fortuna Silver Mines Inc. (NYSE:FSM)

Klein Pavlis & Peasley Financial Inc. decreased its holdings in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 280,403 shares of the basic materials company’s stock after selling 5,268 shares during the period. Fortuna Silver Mines makes up about 1.2% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 27th largest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Fortuna Silver Mines were worth $1,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSM. Raymond James & Associates raised its stake in shares of Fortuna Silver Mines by 160.0% in the 4th quarter. Raymond James & Associates now owns 64,485 shares of the basic materials company’s stock valued at $249,000 after acquiring an additional 39,682 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fortuna Silver Mines by 19.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,280 shares of the basic materials company’s stock valued at $233,000 after purchasing an additional 9,837 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Fortuna Silver Mines in the fourth quarter valued at about $171,000. Van ECK Associates Corp lifted its stake in shares of Fortuna Silver Mines by 7.9% during the fourth quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock worth $125,050,000 after purchasing an additional 2,361,636 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Fortuna Silver Mines by 7.8% in the fourth quarter. National Bank of Canada FI now owns 1,117,873 shares of the basic materials company’s stock worth $4,163,000 after buying an additional 80,856 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSM has been the subject of a number of recent research reports. Scotiabank raised their target price on Fortuna Silver Mines from $6.00 to $6.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. StockNews.com raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

Fortuna Silver Mines Stock Down 0.6 %

Fortuna Silver Mines stock traded down $0.03 during midday trading on Tuesday, hitting $4.78. 3,614,201 shares of the stock were exchanged, compared to its average volume of 6,073,465. Fortuna Silver Mines Inc. has a 1 year low of $2.58 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 0.76. The firm has a market cap of $1.46 billion, a P/E ratio of -43.45 and a beta of 1.57. The company has a 50 day moving average price of $4.82 and a two-hundred day moving average price of $4.50.

About Fortuna Silver Mines

Fortuna Silver Mines Inc 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.