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

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

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th.

Fortuna Silver Mines Price Performance

FSM stock opened at $4.25 on Monday. The stock’s 50 day moving average is $4.61 and its two-hundred day moving average is $4.72. Fortuna Silver Mines has a 52-week low of $2.63 and a 52-week high of $6.36. The company has a market capitalization of $1.31 billion, a PE ratio of 53.17 and a beta of 1.55. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Fortuna Silver Mines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in Fortuna Silver Mines in the third quarter worth $29,000. SeaCrest Wealth Management LLC bought a new position in shares of Fortuna Silver Mines during the fourth quarter worth about $45,000. Private Advisor Group LLC acquired a new stake in shares of Fortuna Silver Mines in the 3rd quarter worth about $50,000. Choreo LLC bought a new stake in Fortuna Silver Mines in the 2nd quarter valued at about $59,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fortuna Silver Mines during the 2nd quarter valued at about $92,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.