Van ECK Associates Corp Sells 3,235,875 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Van ECK Associates Corp lowered its position in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,327,958 shares of the basic materials company’s stock after selling 3,235,875 shares during the period. Van ECK Associates Corp owned about 8.90% of Fortuna Silver Mines worth $117,236,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of 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 valued at $148,000 after buying an additional 5,240 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 valued at $660,000 after buying an additional 5,858 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Fortuna Silver Mines in the 3rd quarter valued at $29,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of Fortuna Silver Mines by 2.7% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 287,357 shares of the basic materials company’s stock valued at $1,233,000 after buying an additional 7,644 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Fortuna Silver Mines by 61.8% in the 4th quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 8,484 shares during the period. Institutional investors own 33.80% of the company’s stock.

Wall Street Analyst Weigh In

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, January 15th.

Fortuna Silver Mines Price Performance

Shares of NYSE FSM opened at $5.39 on Friday. The firm has a market cap of $1.65 billion, a PE ratio of 67.32 and a beta of 1.56. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a 1-year low of $2.63 and a 1-year high of $6.36. The company has a fifty day moving average price of $4.65 and a 200 day moving average price of $4.70.

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.