Fortuna Silver Mines Inc. (NYSE:FSM) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its holdings in Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI by 93.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,104 shares of the basic materials company's stock after selling 155,081 shares during the period. Wells Fargo & Company MN's holdings in Fortuna Silver Mines were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FSM. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Fortuna Silver Mines in the 4th quarter valued at about $34,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth about $45,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fortuna Silver Mines during the fourth quarter worth about $67,000. Kingswood Wealth Advisors LLC acquired a new position in shares of Fortuna Silver Mines in the fourth quarter valued at approximately $68,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Fortuna Silver Mines by 10.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company's stock valued at $88,000 after buying an additional 2,000 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Silver Mines Trading Up 2.8%

Shares of FSM traded up $0.15 during mid-day trading on Monday, reaching $5.54. The company had a trading volume of 9,072,462 shares, compared to its average volume of 10,058,546. Fortuna Silver Mines Inc. has a fifty-two week low of $3.86 and a fifty-two week high of $6.78. The firm has a fifty day simple moving average of $5.94 and a 200-day simple moving average of $5.13. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 69.26 and a beta of 1.10. 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 (NYSE:FSM - Get Free Report) TSE: FVI last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. The firm had revenue of $290.15 million during the quarter, compared to analyst estimates of $291.00 million. On average, sell-side analysts anticipate that Fortuna Silver Mines Inc. will post 0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.