Fortuna Silver Mines Sees Unusually Large Options Volume (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) saw unusually large options trading on Friday. Stock traders purchased 11,082 call options on the stock. This is an increase of 252% compared to the average volume of 3,145 call options.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their price objective on shares of Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th.

Fortuna Silver Mines Trading Up 1.2 %

Shares of FSM stock opened at $4.91 on Friday. Fortuna Silver Mines has a fifty-two week low of $2.58 and a fifty-two week high of $6.36. The stock’s fifty day moving average price is $4.66 and its two-hundred day moving average price is $4.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The company has a market cap of $1.50 billion, a PE ratio of -44.64 and a beta of 1.59.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. The business had revenue of $259.97 million during the quarter. Equities analysts predict that Fortuna Silver Mines will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Silver Mines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter valued at $92,000. The Manufacturers Life Insurance Company grew its holdings in shares of Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock worth $1,240,000 after purchasing an additional 3,392 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Fortuna Silver Mines by 165.9% in 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. Toronto Dominion Bank raised its holdings in Fortuna Silver Mines by 95.5% in the 2nd quarter. Toronto Dominion Bank now owns 26,743 shares of the basic materials company’s stock valued at $131,000 after buying an additional 13,062 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Fortuna Silver Mines by 273.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock worth $6,180,000 after buying an additional 925,084 shares during the period. 33.80% of the stock is owned by institutional investors.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.