Fortuna Silver Mines Inc. (NYSE:FSM) Sees Large Increase in Short Interest

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI was the target of a significant 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. Based on an average trading volume of 13,010,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 6.0% of the company's stock are sold short.

Fortuna Silver Mines Stock Down 3.9 %

NYSE:FSM traded down $0.24 during trading hours on Friday, reaching $5.85. The company's stock had a trading volume of 11,522,952 shares, compared to its average volume of 8,687,794. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 73.07 and a beta of 1.50. Fortuna Silver Mines has a one year low of $3.43 and a one year high of $6.36. The business's 50-day moving average is $4.88 and its 200-day moving average is $4.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37.

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

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Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. CIBC downgraded shares of Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research note on Tuesday, February 18th. Scotiabank decreased their price objective 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. Finally, Cibc World Mkts cut shares of Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 18th.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of hedge funds have recently bought and sold shares of FSM. Optiver Holding B.V. bought a new stake in Fortuna Silver Mines during the fourth quarter valued at about $26,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Fortuna Silver Mines during the fourth quarter valued at about $34,000. SeaCrest Wealth Management LLC bought a new stake in Fortuna Silver Mines during the fourth quarter valued at about $45,000. Bank of Nova Scotia bought a new stake in Fortuna Silver Mines during the fourth quarter valued at about $46,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in Fortuna Silver Mines by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 2,440 shares during the period. 33.80% of the stock is currently owned by 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.