Fortuna Silver Mines Inc. (NYSE:FSM) Sees Significant Drop in Short Interest

Fortuna Silver Mines Inc. (NYSE:FSM - Get Free Report) TSE: FVI saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 19,100,000 shares, a decrease of 17.9% from the March 31st total of 23,260,000 shares. Currently, 6.3% of the company's shares are short sold. Based on an average trading volume of 15,820,000 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Fortuna Silver Mines

Institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in shares of Fortuna Silver Mines during the first quarter worth about $588,000. PCG Wealth Advisors LLC acquired a new stake in Fortuna Silver Mines during the 1st quarter valued at approximately $61,000. Kingsview Wealth Management LLC purchased a new stake in Fortuna Silver Mines during the 1st quarter worth approximately $969,000. Realta Investment Advisors acquired a new position in shares of Fortuna Silver Mines in the 1st quarter valued at approximately $406,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Fortuna Silver Mines in the 1st quarter valued at approximately $445,000. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Silver Mines Trading Up 3.5 %

NYSE FSM traded up $0.21 during mid-day trading on Tuesday, hitting $6.25. The company's stock had a trading volume of 14,373,308 shares, compared to its average volume of 9,719,546. The firm has a market capitalization of $1.92 billion, a P/E ratio of 78.17 and a beta of 1.22. 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 has a 52-week low of $3.86 and a 52-week high of $6.78. The stock's fifty day simple moving average is $5.74 and its two-hundred day simple moving average is $5.09.

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 for the quarter, missing the consensus estimate of $0.20 by ($0.09). Fortuna Silver Mines had a net margin of 2.45% and a return on equity of 10.08%. The business had revenue of $302.20 million for the quarter, compared to analyst estimates of $301.65 million. Research analysts expect that Fortuna Silver Mines will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FSM shares. Cibc World Mkts cut shares of Fortuna Silver Mines from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 18th. Scotiabank boosted their price objective on shares of Fortuna Silver Mines from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial upgraded Fortuna Silver Mines to a "hold" rating in a report on Friday, March 21st. Finally, CIBC cut Fortuna Silver Mines from a "neutral" rating to a "sector underperform" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.00.

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.