Connor Clark & Lunn Investment Management Ltd. Sells 323,800 Shares of Fortuna Silver Mines Inc. (NYSE:FSM)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) by 19.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,324,800 shares of the basic materials company’s stock after selling 323,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.42% of Fortuna Silver Mines worth $6,161,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in Fortuna Silver Mines by 12,560.3% in the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock valued at $26,456,000 after acquiring an additional 5,375,811 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Fortuna Silver Mines by 11,698.0% during the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after purchasing an additional 4,807,537 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock valued at $27,176,000 after buying an additional 3,467,562 shares during the period. Renaissance Technologies LLC increased its position in shares of Fortuna Silver Mines by 94.9% during the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after buying an additional 2,507,249 shares during the period. Finally, American Century Companies Inc. raised its stake in Fortuna Silver Mines by 28.2% in the second quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock worth $23,664,000 after buying an additional 1,065,370 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Fortuna Silver Mines Stock Performance

Shares of Fortuna Silver Mines stock opened at $4.97 on Friday. Fortuna Silver Mines Inc. has a 12 month low of $2.63 and a 12 month high of $6.36. The firm has a market capitalization of $1.56 billion, a P/E ratio of 62.13 and a beta of 1.58. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $4.94.

Fortuna Silver Mines 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.