Quantbot Technologies LP Sells 31,674 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Quantbot Technologies LP reduced its stake in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,800 shares of the basic materials company’s stock after selling 31,674 shares during the period. Quantbot Technologies LP’s holdings in Fortuna Silver Mines were worth $1,389,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Fortuna Silver Mines by 63.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock worth $9,305,000 after purchasing an additional 845,900 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 valued at $5,005,000 after acquiring an additional 821,495 shares in the last quarter. Barclays PLC purchased a new position in Fortuna Silver Mines during the third quarter valued at approximately $2,227,000. Dynamic Technology Lab Private Ltd bought a new stake in Fortuna Silver Mines during the 3rd quarter worth approximately $1,828,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Fortuna Silver Mines in the 3rd quarter worth approximately $1,765,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Fortuna Silver Mines Stock Up 1.3 %

Shares of NYSE:FSM opened at $5.94 on Tuesday. Fortuna Silver Mines Inc. has a 12-month low of $3.43 and a 12-month high of $6.36. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $4.92 and its 200-day moving average price is $4.78. The stock has a market capitalization of $1.82 billion, a P/E ratio of 74.20 and a beta of 1.50.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.09). Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. The company had revenue of $302.20 million during the quarter, compared to the consensus estimate of $301.65 million. On average, equities analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

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.