Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 10,470,000 shares, a drop of 9.7% from the July 15th total of 11,600,000 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 6,690,000 shares, the short-interest ratio is presently 1.6 days.
Analyst Ratings Changes
FSM has been the topic of a number of recent research reports. StockNews.com raised shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Scotiabank raised their price objective on shares of Fortuna Silver Mines from $4.75 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd.
Get Our Latest Analysis on FSM
Fortuna Silver Mines Stock Up 1.8 %
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in shares of Fortuna Silver Mines by 5.0% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fortuna Silver Mines by 5.1% during the first 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 purchasing an additional 388,903 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortuna Silver Mines by 6.0% during 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 purchasing an additional 346,008 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in 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 worth $27,176,000 after buying an additional 3,467,562 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in 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 buying an additional 5,375,811 shares during the last quarter. 33.80% of the stock is owned by institutional investors.
About Fortuna Silver Mines
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.
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