Ingalls & Snyder LLC Cuts Stake in Fortuna Silver Mines Inc. (NYSE:FSM)

Ingalls & Snyder LLC lowered its holdings in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,500 shares of the basic materials company’s stock after selling 4,000 shares during the quarter. Ingalls & Snyder LLC’s holdings in Fortuna Silver Mines were worth $139,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth about $1,347,000. Van ECK Associates Corp boosted its stake in Fortuna Silver Mines by 2.6% during the third quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after buying an additional 788,703 shares during the last quarter. Franklin Resources Inc. boosted its stake in Fortuna Silver Mines by 616.1% during the third quarter. Franklin Resources Inc. now owns 253,500 shares of the basic materials company’s stock valued at $1,231,000 after buying an additional 218,100 shares during the last quarter. Barclays PLC bought a new position in Fortuna Silver Mines during the third quarter valued at approximately $2,227,000. Finally, Public Employees Retirement System of Ohio bought a new position in Fortuna Silver Mines during the third quarter valued at approximately $1,765,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th.

Fortuna Silver Mines Price Performance

NYSE:FSM opened at $5.14 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 64.20 and a beta of 1.56. Fortuna Silver Mines Inc. has a 1 year low of $2.63 and a 1 year high of $6.36. The business has a 50 day simple moving average of $4.66 and a 200-day simple moving average of $4.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

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.