Fortuna Silver Mines Inc. (NYSE:FSM) Short Interest Up 12.3% in October

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

Institutional Trading of Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Fortuna Silver Mines by 2.6% in the 3rd quarter. Van ECK Associates Corp now owns 30,563,833 shares of the basic materials company’s stock valued at $141,511,000 after buying an additional 788,703 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Fortuna Silver Mines by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,107,298 shares of the basic materials company’s stock valued at $29,865,000 after purchasing an additional 346,008 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake 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 during the last quarter. Acadian Asset Management LLC boosted its stake in Fortuna Silver Mines by 12,560.3% during the 2nd quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock valued at $26,456,000 after purchasing an additional 5,375,811 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Fortuna Silver Mines by 94.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock valued at $25,173,000 after purchasing an additional 2,507,249 shares during the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Silver Mines Stock Up 3.6 %

Fortuna Silver Mines stock traded up $0.17 during midday trading on Monday, reaching $4.85. The stock had a trading volume of 9,520,195 shares, compared to its average volume of 6,391,363. Fortuna Silver Mines has a 12 month low of $2.63 and a 12 month high of $6.36. The company has a market capitalization of $1.52 billion, a P/E ratio of 60.63 and a beta of 1.58. The company has a fifty day moving average price of $4.83 and a two-hundred day moving average price of $4.94. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

Wall Street Analyst Weigh In

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

About Fortuna Silver Mines

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.