Fortuna Silver Mines (NYSE:FSM) Shares Gap Down – Here’s Why

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.97, but opened at $4.72. Fortuna Silver Mines shares last traded at $4.78, with a volume of 431,812 shares trading hands.

Wall Street Analysts Forecast Growth

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

Fortuna Silver Mines Stock Performance

The stock has a market cap of $1.52 billion, a PE ratio of 60.51 and a beta of 1.58. The company’s 50 day simple moving average is $4.85 and its 200 day simple moving average is $4.94. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

Institutional Investors Weigh In On Fortuna Silver Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in Fortuna Silver Mines by 12,560.3% during the 2nd quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock valued at $26,456,000 after buying an additional 5,375,811 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Fortuna Silver Mines by 165.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after acquiring an additional 3,467,562 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Fortuna Silver Mines by 94.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after acquiring an additional 2,507,249 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Fortuna Silver Mines by 28.2% during the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after acquiring an additional 1,065,370 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Fortuna Silver Mines by 273.0% in the second quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock worth $6,180,000 after purchasing an additional 925,084 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

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.