Short Interest in Fortuna Silver Mines Inc. (NYSE:FSM) Increases By 10.6%

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 14,660,000 shares, an increase of 10.6% from the October 31st total of 13,250,000 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average daily volume of 7,230,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of Fortuna Silver Mines

A number of institutional investors have recently bought and sold shares of FSM. Financial Management Professionals Inc. purchased a new position in Fortuna Silver Mines during the third quarter worth about $29,000. Banque Cantonale Vaudoise purchased a new position in Fortuna Silver Mines in the second quarter valued at about $36,000. Private Advisor Group LLC purchased a new position in Fortuna Silver Mines in the third quarter valued at about $50,000. Hohimer Wealth Management LLC bought a new position in Fortuna Silver Mines during the 2nd quarter worth approximately $54,000. Finally, Choreo LLC bought a new stake in shares of Fortuna Silver Mines in the 2nd quarter worth approximately $59,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Fortuna Silver Mines Trading Up 9.6 %

Shares of FSM stock opened at $4.98 on Wednesday. The business’s fifty day moving average price is $4.84 and its 200 day moving average price is $4.93. Fortuna Silver Mines has a 1-year low of $2.63 and a 1-year high of $6.36. The firm has a market capitalization of $1.56 billion, a PE ratio of 62.20 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

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.