National Bank Financial Weighs in on FSM FY2024 Earnings

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for Fortuna Silver Mines in a research note issued on Wednesday, November 20th. National Bank Financial analyst D. Demarco now forecasts that the basic materials company will earn $0.53 per share for the year, up from their prior estimate of $0.44. The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.43 per share. National Bank Financial also issued estimates for Fortuna Silver Mines’ FY2025 earnings at $0.66 EPS and FY2026 earnings at $0.53 EPS.

Separately, Scotiabank increased 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.

Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock opened at $4.97 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The stock has a market capitalization of $1.56 billion, a P/E ratio of 62.13 and a beta of 1.58. The company’s fifty day moving average price is $4.85 and its 200 day moving average price is $4.94.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted 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 valued at $26,456,000 after purchasing an additional 5,375,811 shares in the last quarter. Tidal Investments LLC grew its holdings in Fortuna Silver Mines by 11,698.0% in 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 buying an additional 4,807,537 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of 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 acquiring an additional 3,467,562 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Fortuna Silver Mines by 94.9% in the second quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company’s stock worth $25,173,000 after acquiring an additional 2,507,249 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Fortuna Silver Mines by 28.2% during the second quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company’s stock worth $23,664,000 after purchasing an additional 1,065,370 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.