Fortuna Silver Mines (NYSE:FSM) Trading 6.4% Higher – What’s Next?

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s share price was up 6.4% during mid-day trading on Tuesday . The company traded as high as $4.51 and last traded at $4.51. Approximately 1,874,819 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 8,699,205 shares. The stock had previously closed at $4.24.

Fortuna Silver Mines Stock Performance

The firm has a market capitalization of $1.40 billion, a PE ratio of 57.01 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. The company’s fifty day simple moving average is $4.64 and its 200 day simple moving average is $4.74.

Institutional Trading of Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in FSM. The Manufacturers Life Insurance Company boosted its position in shares of Fortuna Silver Mines by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after acquiring an additional 3,392 shares during the period. Toronto Dominion Bank increased its stake in Fortuna Silver Mines by 19.6% in the 3rd quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock worth $148,000 after acquiring an additional 5,240 shares during the last quarter. Geode Capital Management LLC increased its stake in Fortuna Silver Mines by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after acquiring an additional 5,858 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Fortuna Silver Mines during the 3rd quarter valued at about $29,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Fortuna Silver Mines during the 4th quarter valued at about $45,000. 33.80% of the stock is currently owned by institutional investors.

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.