Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Down 7.6% in September

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 10,430,000 shares, a decline of 7.6% from the August 31st total of 11,290,000 shares. Based on an average trading volume of 5,430,000 shares, the short-interest ratio is currently 1.9 days. Approximately 3.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of Fortuna Silver Mines in the 2nd quarter worth $36,000. Perritt Capital Management Inc. increased its position in Fortuna Silver Mines by 40.0% in the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after buying an additional 3,000 shares in the last quarter. Hohimer Wealth Management LLC bought a new position in shares of Fortuna Silver Mines in the second quarter worth about $54,000. Coppell Advisory Solutions Corp. bought a new position in shares of Fortuna Silver Mines in the first quarter worth about $56,000. Finally, Choreo LLC purchased a new position in shares of Fortuna Silver Mines during the 2nd quarter valued at about $59,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Silver Mines Stock Performance

Shares of FSM traded up $0.15 during mid-day trading on Tuesday, hitting $4.78. 8,479,731 shares of the company traded hands, compared to its average volume of 6,197,632. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -43.45 and a beta of 1.59. The stock has a 50-day moving average price of $4.62 and a two-hundred day moving average price of $4.79. Fortuna Silver Mines has a 1 year low of $2.58 and a 1 year high of $6.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Fortuna Silver Mines had a net margin of 0.20% and a return on equity of 8.75%. The firm had revenue of $259.97 million for the quarter. Equities analysts anticipate that Fortuna Silver Mines will post 0.47 earnings per share for the current year.

Analyst Ratings Changes

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

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.