Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Up 21.2% in February

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 15,510,000 shares, an increase 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 short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

A number of brokerages have recently commented on FSM. Scotiabank cut their price target 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. CIBC lowered shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Cibc World Mkts cut Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its position in Fortuna Silver Mines by 224.6% in the 4th quarter. Mackenzie Financial Corp now owns 4,720,375 shares of the basic materials company’s stock valued at $20,240,000 after acquiring an additional 3,266,096 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Fortuna Silver Mines by 40.3% during the fourth quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company’s stock valued at $32,359,000 after buying an additional 2,165,430 shares during the last quarter. Invesco Ltd. increased its holdings in Fortuna Silver Mines by 1,558.0% in the 4th quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company’s stock worth $8,326,000 after buying an additional 1,823,695 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Fortuna Silver Mines by 17.1% in 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 buying an additional 1,219,864 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fortuna Silver Mines by 63.9% during the 4th 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 acquiring an additional 845,900 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

Fortuna Silver Mines Trading Up 6.8 %

Shares of FSM opened at $4.94 on Friday. 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 capitalization of $1.52 billion, a P/E ratio of 60.98 and a beta of 1.56. Fortuna Silver Mines has a twelve month low of $3.16 and a twelve month high of $6.36. The firm has a fifty day simple moving average of $4.63 and a two-hundred day simple moving average of $4.71.

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

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.