Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Up 11.1% in September

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the recipient of a significant increase in short interest in 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 daily volume of 6,000,000 shares, the short-interest ratio is currently 1.9 days. Approximately 3.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Scotiabank boosted 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 Stock Up 0.4 %

Shares of NYSE FSM traded up $0.02 during mid-day trading on Thursday, reaching $4.66. 3,038,376 shares of the company were exchanged, compared to its average volume of 6,230,984. The firm has a 50-day moving average of $4.65 and a 200 day moving average of $4.88. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -42.14 and a beta of 1.60.

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

Hedge Funds Weigh In On Fortuna Silver Mines

Several institutional investors and hedge funds have recently bought and sold shares of FSM. Van ECK Associates Corp lifted its holdings in shares of Fortuna Silver Mines by 5.0% during the 1st 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Fortuna Silver Mines by 5.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock valued at $29,710,000 after buying an additional 388,903 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fortuna Silver Mines by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock valued at $29,865,000 after buying an additional 346,008 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in 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 worth $27,176,000 after acquiring an additional 3,467,562 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Fortuna Silver Mines by 12,560.3% during the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock worth $26,456,000 after acquiring an additional 5,375,811 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.