Q3 EPS Forecast for Fortuna Silver Mines Cut by Analyst

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Equities researchers at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for Fortuna Silver Mines in a research report issued on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now expects that the basic materials company will post earnings of $0.11 per share for the quarter, down from their previous forecast of $0.16. The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.47 per share.

Separately, Scotiabank raised their price objective 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 Price Performance

FSM stock opened at $5.08 on Friday. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The company has a market cap of $1.59 billion, a P/E ratio of 508.51 and a beta of 1.60. The firm has a 50-day moving average of $4.75 and a 200 day moving average of $4.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.00.

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

Institutional Trading of Fortuna Silver Mines

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in Fortuna Silver Mines by 12,560.3% in the 2nd quarter. Acadian Asset Management LLC now owns 5,418,611 shares of the basic materials company’s stock worth $26,456,000 after buying an additional 5,375,811 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Fortuna Silver Mines by 11,698.0% during the 1st quarter. Tidal Investments LLC now owns 4,848,634 shares of the basic materials company’s stock valued at $18,081,000 after acquiring an additional 4,807,537 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Fortuna Silver Mines by 165.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after acquiring an additional 3,467,562 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Fortuna Silver Mines by 94.9% during 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 purchasing an additional 2,507,249 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Fortuna Silver Mines by 5.0% during the first quarter. Van ECK Associates Corp now owns 34,021,296 shares of the basic materials company’s stock valued at $126,896,000 after purchasing an additional 1,624,470 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.