Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Up 16.8% in February

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 18,110,000 shares, a growth of 16.8% from the February 13th total of 15,510,000 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average trading volume of 13,010,000 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at about $1,828,000. The Manufacturers Life Insurance Company increased its holdings in shares of Fortuna Silver Mines by 323.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock valued at $5,005,000 after purchasing an additional 821,495 shares during the period. Quantbot Technologies LP increased its holdings in shares of Fortuna Silver Mines by 239.0% in the 3rd quarter. Quantbot Technologies LP now owns 355,474 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 250,618 shares during the period. De Lisle Partners LLP acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at about $1,672,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Fortuna Silver Mines in the 3rd quarter valued at about $1,347,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

FSM has been the subject of a number of research analyst reports. Scotiabank cut their price target on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts downgraded shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 18th.

Fortuna Silver Mines Trading Up 0.9 %

NYSE FSM traded up $0.05 on Wednesday, hitting $6.00. 15,045,348 shares of the company were exchanged, compared to its average volume of 8,589,765. The company’s 50 day moving average price is $4.82 and its 200-day moving average price is $4.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The firm has a market capitalization of $1.84 billion, a P/E ratio of 75.06 and a beta of 1.50. Fortuna Silver Mines has a twelve month low of $3.23 and a twelve month high of $6.36.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, March 5th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.09). The company had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. Analysts predict that Fortuna Silver Mines will post 0.51 earnings per share for the current fiscal 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.