FY2024 EPS Forecast for Fortuna Silver Mines Cut by Analyst

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Investment analysts at National Bank Financial dropped their FY2024 EPS estimates for Fortuna Silver Mines in a report released on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now expects that the basic materials company will earn $0.44 per share for the year, down from their prior estimate of $0.52. The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.47 per share. National Bank Financial also issued estimates for Fortuna Silver Mines’ FY2025 earnings at $0.49 EPS.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, August 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The business had revenue of $259.97 million during the quarter. Fortuna Silver Mines had a return on equity of 8.75% and a net margin of 0.20%.

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

Fortuna Silver Mines Trading Down 1.7 %

Shares of NYSE FSM opened at $5.20 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.51. The business’s 50 day moving average price is $4.74 and its 200-day moving average price is $4.91. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -47.27 and a beta of 1.60.

Institutional Trading of Fortuna Silver Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new stake in Fortuna Silver Mines in the 4th quarter worth approximately $77,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Fortuna Silver Mines during the first quarter worth $78,000. Van ECK Associates Corp grew its stake in Fortuna Silver Mines by 5.0% during the 1st quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company’s stock valued at $126,896,000 after acquiring an additional 1,624,470 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of Fortuna Silver Mines by 11.4% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 96,900 shares of the basic materials company’s stock worth $360,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Fortuna Silver Mines by 5.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,955,544 shares of the basic materials company’s stock worth $29,710,000 after buying an additional 388,903 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.