Short Interest in Fortuna Silver Mines Inc. (NYSE:FSM) Rises By 11.1%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 11,590,000 shares, an increase of 11.1% from the September 15th total of 10,430,000 shares. Based on an average trading volume of 6,000,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 3.7% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Scotiabank raised 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.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds have recently added to or reduced their stakes in FSM. Van ECK Associates Corp boosted its holdings in shares of Fortuna Silver Mines by 5.0% in the first quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company’s stock valued at $126,896,000 after purchasing an additional 1,624,470 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fortuna Silver Mines by 5.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock worth $29,710,000 after buying an additional 388,903 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fortuna Silver Mines by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock worth $29,865,000 after buying an additional 346,008 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake 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. Finally, Acadian Asset Management LLC raised its holdings in shares of 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. 33.80% of the stock is currently owned by institutional investors.

Fortuna Silver Mines Trading Up 0.4 %

Fortuna Silver Mines stock traded up $0.02 during mid-day trading on Thursday, hitting $4.66. The company’s stock had a trading volume of 3,038,376 shares, compared to its average volume of 6,230,984. 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 50 day moving average of $4.65 and a 200-day moving average of $4.88. Fortuna Silver Mines has a one year low of $2.63 and a one year high of $6.36. The stock has a market cap of $1.43 billion, a PE ratio of -42.14 and a beta of 1.60.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The company had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%. On average, research analysts anticipate that Fortuna Silver Mines will post 0.47 EPS for the current year.

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.