Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Update

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 23,260,000 shares, a growth of 27.7% from the March 15th total of 18,220,000 shares. Currently, 7.7% of the company’s shares are sold short. Based on an average daily volume of 15,070,000 shares, the days-to-cover ratio is currently 1.5 days.

Fortuna Silver Mines Stock Down 1.3 %

Shares of FSM traded down $0.08 during mid-day trading on Monday, hitting $6.29. The company’s stock had a trading volume of 9,366,251 shares, compared to its average volume of 9,379,569. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 78.63 and a beta of 1.22. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines has a 52-week low of $3.86 and a 52-week high of $6.77. The company’s 50-day moving average is $5.46 and its 200-day moving average is $4.98.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, March 5th. The basic materials company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.09). Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%. The firm had revenue of $302.20 million during the quarter, compared to the consensus estimate of $301.65 million. On average, equities research analysts forecast that Fortuna Silver Mines will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. purchased a new position in shares of Fortuna Silver Mines in the fourth quarter worth $26,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Fortuna Silver Mines in the 4th quarter worth $34,000. SeaCrest Wealth Management LLC acquired a new stake in Fortuna Silver Mines during the 4th quarter worth about $45,000. Bank of Nova Scotia purchased a new stake in Fortuna Silver Mines during the 4th quarter valued at about $46,000. Finally, TD Waterhouse Canada Inc. grew its stake in Fortuna Silver Mines by 24.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 2,440 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSM has been the topic of several recent analyst reports. Scotiabank raised their price target on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. CIBC downgraded shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Finally, National Bank Financial raised Fortuna Silver Mines to a “hold” rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

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.