Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Down 6.1% in December

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 12,980,000 shares, a drop of 6.1% from the December 15th total of 13,820,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average trading volume of 8,130,000 shares, the days-to-cover ratio is presently 1.6 days.

Fortuna Silver Mines Stock Down 1.1 %

Shares of NYSE FSM traded down $0.05 during trading hours on Friday, hitting $4.25. 7,883,078 shares of the stock were exchanged, compared to its average volume of 7,591,706. The company has a market cap of $1.31 billion, a PE ratio of 53.17 and a beta of 1.55. Fortuna Silver Mines has a 12 month low of $2.63 and a 12 month 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 firm has a fifty day moving average price of $4.61 and a 200-day moving average price of $4.72.

Analyst Ratings Changes

Separately, Scotiabank cut their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday.

Institutional Trading of Fortuna Silver Mines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Fortuna Silver Mines by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock valued at $1,240,000 after acquiring an additional 3,392 shares in the last quarter. Toronto Dominion Bank increased its stake in Fortuna Silver Mines by 19.6% during the 3rd quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 5,240 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Fortuna Silver Mines by 4.3% in the third quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after buying an additional 5,858 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Fortuna Silver Mines during the third quarter worth $29,000. Finally, SG Americas Securities LLC grew its holdings in shares of Fortuna Silver Mines by 61.8% during the fourth quarter. SG Americas Securities LLC now owns 22,207 shares of the basic materials company’s stock valued at $95,000 after buying an additional 8,484 shares during the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

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.