Fortuna Silver Mines Inc (FSM) Position Cut by CIBC World Markets Inc.
CIBC World Markets Inc. trimmed its position in Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) by 13.7% during the fourth quarter, Holdings Channel reports. The fund owned 93,903 shares of the basic materials company’s stock after selling 14,897 shares during the quarter. CIBC World Markets Inc.’s holdings in Fortuna Silver Mines were worth $490,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in FSM. Ingalls & Snyder LLC increased its stake in Fortuna Silver Mines by 98.1% in the fourth quarter. Ingalls & Snyder LLC now owns 2,995,200 shares of the basic materials company’s stock valued at $15,635,000 after acquiring an additional 1,483,000 shares during the last quarter. Gabelli Funds LLC increased its stake in Fortuna Silver Mines by 204.3% in the third quarter. Gabelli Funds LLC now owns 1,750,000 shares of the basic materials company’s stock valued at $7,665,000 after acquiring an additional 1,175,000 shares during the last quarter. Sicart Associates LLC bought a new position in Fortuna Silver Mines in the fourth quarter valued at approximately $4,567,000. TD Asset Management Inc. increased its stake in Fortuna Silver Mines by 64.8% in the third quarter. TD Asset Management Inc. now owns 1,827,749 shares of the basic materials company’s stock valued at $7,980,000 after acquiring an additional 718,800 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Fortuna Silver Mines by 318.6% in the second quarter. Goldman Sachs Group Inc. now owns 656,325 shares of the basic materials company’s stock valued at $3,210,000 after acquiring an additional 499,544 shares during the last quarter. 43.58% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on FSM shares. Raymond James Financial cut shares of Fortuna Silver Mines from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 21st. BMO Capital Markets started coverage on shares of Fortuna Silver Mines in a research note on Friday, November 17th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.75.
Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $64.00 million for the quarter, compared to analysts’ expectations of $56.00 million. Fortuna Silver Mines had a net margin of 15.44% and a return on equity of 9.15%. sell-side analysts expect that Fortuna Silver Mines Inc will post 0.34 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “Fortuna Silver Mines Inc (FSM) Position Cut by CIBC World Markets Inc.” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2018/02/09/fortuna-silver-mines-inc-fsm-position-cut-by-cibc-world-markets-inc.html.
About Fortuna Silver Mines
Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.
Want to see what other hedge funds are holding FSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI).
Receive News & Ratings for Fortuna Silver Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortuna Silver Mines and related companies with MarketBeat.com's FREE daily email newsletter.