Millennium Management LLC Sells 2,341,834 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Millennium Management LLC decreased its holdings in shares of Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 62.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,413,258 shares of the basic materials company's stock after selling 2,341,834 shares during the quarter. Millennium Management LLC owned 0.46% of Fortuna Silver Mines worth $6,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Barclays PLC acquired a new stake in Fortuna Silver Mines during the 3rd quarter worth about $2,227,000. Legal & General Group Plc boosted its holdings in shares of Fortuna Silver Mines by 10.0% during the fourth quarter. Legal & General Group Plc now owns 863,406 shares of the basic materials company's stock worth $3,704,000 after purchasing an additional 78,284 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Fortuna Silver Mines during the fourth quarter worth approximately $67,000. BNP Paribas Financial Markets purchased a new position in Fortuna Silver Mines during the fourth quarter valued at approximately $801,000. Finally, Raymond James Financial Inc. acquired a new position in Fortuna Silver Mines in the 4th quarter valued at approximately $523,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Silver Mines Stock Up 0.9%

Shares of FSM traded up $0.05 during mid-day trading on Friday, hitting $5.85. 21,715,642 shares of the company's stock were exchanged, compared to its average volume of 10,318,789. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 73.13 and a beta of 1.10. The firm has a fifty day moving average of $5.94 and a two-hundred day moving average of $5.18. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines Inc. has a twelve month low of $3.86 and a twelve month high of $6.78.

Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The business had revenue of $290.15 million for the quarter, compared to analyst estimates of $291.00 million. On average, sell-side analysts forecast that Fortuna Silver Mines Inc. will post 0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSM has been the subject of a number of research reports. National Bank Financial raised shares of Fortuna Silver Mines to a "hold" rating in a research note on Friday, March 21st. CIBC cut Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday, February 18th. Cibc World Mkts lowered Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 18th. Finally, Scotiabank lifted their price target on Fortuna Silver Mines from $6.00 to $7.00 and gave the company a "sector perform" rating in a report on Monday, April 14th.

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.