Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Update

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 13,250,000 shares, a growth of 12.3% from the October 15th total of 11,800,000 shares. Based on an average trading volume of 6,810,000 shares, the short-interest ratio is presently 1.9 days. Currently, 4.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in FSM. Acadian Asset Management LLC boosted its position in shares of Fortuna Silver Mines by 12,560.3% during the second quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock worth $26,456,000 after purchasing an additional 5,375,811 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Fortuna Silver Mines by 11,698.0% during the first quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock worth $18,081,000 after purchasing an additional 4,807,537 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Fortuna Silver Mines by 94.9% during the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after purchasing an additional 2,507,249 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Fortuna Silver Mines by 28.2% in the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock valued at $23,664,000 after acquiring an additional 1,065,370 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Fortuna Silver Mines Trading Up 3.6 %

Shares of NYSE FSM traded up $0.17 during midday trading on Monday, reaching $4.85. 9,520,195 shares of the stock were exchanged, compared to its average volume of 6,391,363. The business has a 50-day simple moving average of $4.83 and a two-hundred day simple moving average of $4.94. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 60.63 and a beta of 1.58. Fortuna Silver Mines has a 12 month low of $2.63 and a 12 month high of $6.36. 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 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.