Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 15,510,000 shares, a growth of 21.2% from the January 31st total of 12,800,000 shares. Currently, 5.0% of the shares of the stock are short sold. Based on an average daily volume of 11,620,000 shares, the days-to-cover ratio is currently 1.3 days.
Hedge Funds Weigh In On Fortuna Silver Mines
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its stake in Fortuna Silver Mines by 224.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company's stock valued at $20,240,000 after purchasing an additional 3,266,096 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Fortuna Silver Mines by 40.3% in the 4th quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company's stock valued at $32,359,000 after acquiring an additional 2,165,430 shares during the last quarter. Invesco Ltd. boosted its holdings in Fortuna Silver Mines by 1,558.0% during the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company's stock valued at $8,326,000 after acquiring an additional 1,823,695 shares during the period. D. E. Shaw & Co. Inc. grew its position in Fortuna Silver Mines by 17.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company's stock worth $35,779,000 after acquiring an additional 1,219,864 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Fortuna Silver Mines by 63.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company's stock valued at $9,305,000 after purchasing an additional 845,900 shares during the last quarter. Institutional investors own 33.80% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on FSM shares. Cibc World Mkts lowered shares of Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 18th. Scotiabank reduced their target price on shares of Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 15th. Finally, CIBC downgraded shares of Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a research report on Tuesday, February 18th.
Get Our Latest Stock Report on Fortuna Silver Mines
Fortuna Silver Mines Stock Up 5.9 %
FSM traded up $0.28 during trading on Friday, hitting $4.91. 23,596,192 shares of the company's stock were exchanged, compared to its average volume of 14,401,709. Fortuna Silver Mines has a fifty-two week low of $3.16 and a fifty-two week high of $6.36. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.50 billion, a P/E ratio of 61.32 and a beta of 1.50. The business's 50 day moving average is $4.65 and its two-hundred day moving average is $4.71.
Fortuna Silver Mines (NYSE:FSM - Get Free Report) TSE: FVI last posted its earnings results 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 firm 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%. As a group, equities analysts expect that Fortuna Silver Mines will post 0.51 earnings per share for the current fiscal year.
Fortuna Silver Mines Company Profile
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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.
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