Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Down 6.1% in December

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 12,980,000 shares, a drop of 6.1% from the December 15th total of 13,820,000 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,130,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price target on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday.

Fortuna Silver Mines Trading Down 1.1 %

Shares of NYSE:FSM traded down $0.05 during trading hours on Friday, hitting $4.25. 7,883,078 shares of the company’s stock traded hands, compared to its average volume of 7,591,706. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.94 and a quick ratio of 1.37. The business has a fifty day moving average price of $4.61 and a 200-day moving average price of $4.72. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The firm has a market capitalization of $1.31 billion, a P/E ratio of 53.17 and a beta of 1.55.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSM. D. E. Shaw & Co. Inc. raised its position in Fortuna Silver Mines by 165.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock valued at $27,176,000 after purchasing an additional 3,467,562 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Fortuna Silver Mines by 94.9% in the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after acquiring an additional 2,507,249 shares in the last quarter. American Century Companies Inc. lifted its stake in Fortuna Silver Mines by 28.2% in the second quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock worth $23,664,000 after acquiring an additional 1,065,370 shares during the period. Cubist Systematic Strategies LLC grew its holdings in Fortuna Silver Mines by 273.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock worth $6,180,000 after acquiring an additional 925,084 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Fortuna Silver Mines by 323.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company’s stock valued at $5,005,000 after purchasing an additional 821,495 shares during the period. Institutional investors own 33.80% of the company’s stock.

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.