Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Up 10.6% in November

by · The Markets Daily

Fortuna Silver Mines Inc. (NYSE:FSM – Get Free Report) (TSE:FVI) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 14,660,000 shares, an increase of 10.6% from the October 31st total of 13,250,000 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 7,230,000 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in Fortuna Silver Mines during the 3rd quarter worth approximately $29,000. Banque Cantonale Vaudoise acquired a new stake in Fortuna Silver Mines in the second quarter valued at $36,000. Private Advisor Group LLC bought a new position in Fortuna Silver Mines during the 3rd quarter worth $50,000. Hohimer Wealth Management LLC acquired a new position in Fortuna Silver Mines during the 2nd quarter worth about $54,000. Finally, Choreo LLC bought a new stake in shares of Fortuna Silver Mines in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock traded down $0.24 during mid-day trading on Monday, reaching $4.54. The company had a trading volume of 8,080,161 shares, compared to its average volume of 6,407,663. The business has a fifty day simple moving average of $4.85 and a 200 day simple moving average of $4.93. The company has a market cap of $1.42 billion, a P/E ratio of 59.26 and a beta of 1.58. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their price objective on Fortuna Silver Mines from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th.

Read Our Latest Stock Analysis on Fortuna Silver Mines

Fortuna Silver Mines Company Profile

(Get Free Report)

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.

Read More