CIBC Asset Management Inc Purchases 8,633 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

CIBC Asset Management Inc boosted its position in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 384,567 shares of the basic materials company’s stock after acquiring an additional 8,633 shares during the period. CIBC Asset Management Inc’s holdings in Fortuna Silver Mines were worth $1,647,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Fortuna Silver Mines during the third quarter worth about $29,000. SeaCrest Wealth Management LLC purchased a new stake in Fortuna Silver Mines in the 4th quarter worth approximately $45,000. Private Advisor Group LLC purchased a new stake in Fortuna Silver Mines in the 3rd quarter worth approximately $50,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Fortuna Silver Mines in the 4th quarter worth approximately $68,000. Finally, SG Americas Securities LLC increased its stake in shares of Fortuna Silver Mines by 61.8% during the fourth quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock valued at $95,000 after buying an additional 8,484 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Trading Down 8.4 %

FSM opened at $4.43 on Friday. 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 52 week low of $2.63 and a 52 week high of $6.36. The stock has a market cap of $1.36 billion, a PE ratio of 55.32 and a beta of 1.56. The business has a 50 day moving average of $4.64 and a 200-day moving average of $4.70.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FSM shares. 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. Cibc World Mkts cut shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortuna Silver Mines presently has a consensus rating of “Hold” and an average price target of $6.00.

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.