Sicart Associates LLC Takes $3.17 Million Position in Fortuna Silver Mines Inc. (NYSE:FSM)

Sicart Associates LLC bought a new position in shares of Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 684,883 shares of the basic materials company’s stock, valued at approximately $3,171,000. Sicart Associates LLC owned approximately 0.22% of Fortuna Silver Mines as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSM. Financial Management Professionals Inc. acquired a new stake in shares of Fortuna Silver Mines in the third quarter valued at $29,000. Banque Cantonale Vaudoise acquired a new stake in Fortuna Silver Mines in the 2nd quarter valued at about $36,000. Perritt Capital Management Inc. boosted its stake in shares of Fortuna Silver Mines by 40.0% in the 1st quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock valued at $39,000 after buying an additional 3,000 shares during the period. Private Advisor Group LLC acquired a new position in shares of Fortuna Silver Mines during the third quarter worth about $50,000. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the second quarter worth approximately $54,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Stock Up 1.8 %

Shares of NYSE:FSM traded up $0.09 on Tuesday, hitting $5.21. 3,924,423 shares of the company’s stock were exchanged, compared to its average volume of 6,297,667. Fortuna Silver Mines Inc. has a 1-year low of $2.63 and a 1-year high of $6.36. The company has a market capitalization of $1.59 billion, a PE ratio of -46.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The firm’s 50-day moving average is $4.76 and its 200 day moving average is $4.92.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. Sell-side analysts predict that Fortuna Silver Mines Inc. will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their price target on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th.

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.