Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,981,711 shares, a decline of 63.8% from the June 15th total of 5,471,818 shares. Based on an average daily trading volume, of 2,559,080 shares, the short-interest ratio is presently 0.8 days. Currently, 1.4% of the shares of the company are short sold.

Shares of Fortuna Silver Mines (FSM) opened at 4.86 on Thursday. Fortuna Silver Mines has a 12-month low of $4.11 and a 12-month high of $9.75. The company has a market cap of $773.82 million, a P/E ratio of 25.31 and a beta of 0.27. The firm has a 50-day moving average of $4.82 and a 200-day moving average of $5.29.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Monday, May 15th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $57.90 million for the quarter, compared to the consensus estimate of $59 million. Fortuna Silver Mines had a return on equity of 9.58% and a net margin of 12.88%. The company’s revenue was up 56.5% compared to the same quarter last year. Analysts predict that Fortuna Silver Mines will post $0.31 EPS for the current year.

Several analysts recently commented on the stock. UBS AG raised shares of Fortuna Silver Mines from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, April 5th. Scotiabank reissued a “sector perform” rating and issued a $9.00 price objective on shares of Fortuna Silver Mines in a report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a report on Monday, May 29th. Raymond James Financial, Inc. raised shares of Fortuna Silver Mines from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, April 5th. Finally, National Bank Financial reissued an “outperform” rating on shares of Fortuna Silver Mines in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $8.94.

Institutional investors have recently modified their holdings of the company. Exane Derivatives raised its position in Fortuna Silver Mines by 283.3% in the second quarter. Exane Derivatives now owns 23,000 shares of the basic materials company’s stock worth $113,000 after buying an additional 17,000 shares during the period. Eqis Capital Management Inc. raised its position in Fortuna Silver Mines by 8.3% in the second quarter. Eqis Capital Management Inc. now owns 51,904 shares of the basic materials company’s stock worth $254,000 after buying an additional 3,977 shares during the period. Integrated Investment Consultants LLC purchased a new position in Fortuna Silver Mines during the second quarter worth approximately $293,000. Sprott Inc. raised its position in Fortuna Silver Mines by 79.8% in the second quarter. Sprott Inc. now owns 1,832,300 shares of the basic materials company’s stock worth $8,960,000 after buying an additional 813,000 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Fortuna Silver Mines by 404.2% in the first quarter. Tower Research Capital LLC TRC now owns 29,748 shares of the basic materials company’s stock worth $155,000 after buying an additional 23,848 shares during the period. Hedge funds and other institutional investors own 49.60% of the company’s stock.

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About Fortuna Silver Mines

Fortuna Silver Mines Inc is a Canada-based mining company engaged in silver mining and related activities in Latin America, including exploration, extraction and processing. The Company operates the Caylloma silver, lead, and zinc mine (Caylloma) in southern Peru and the San Jose silver and gold mine (San Jose) in southern Mexico.

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