Scotiabank Predicts Higher Earnings for Fortuna Silver Mines

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Scotiabank boosted their FY2024 earnings per share (EPS) estimates for Fortuna Silver Mines in a report issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now expects that the basic materials company will post earnings per share of $0.52 for the year, up from their prior estimate of $0.42. The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.47 per share.

Fortuna Silver Mines Stock Down 2.4 %

Shares of FSM opened at $4.40 on Friday. Fortuna Silver Mines has a 52-week low of $2.63 and a 52-week high of $6.36. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $4.67 and a two-hundred day simple moving average of $4.74. The company has a market capitalization of $1.35 billion, a PE ratio of 55.01 and a beta of 1.55.

Institutional Investors Weigh In On Fortuna Silver Mines

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of Fortuna Silver Mines by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 253,984 shares of the basic materials company’s stock worth $1,240,000 after purchasing an additional 3,392 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Fortuna Silver Mines by 19.6% in the third quarter. Toronto Dominion Bank now owns 31,983 shares of the basic materials company’s stock valued at $148,000 after purchasing an additional 5,240 shares in the last quarter. Geode Capital Management LLC increased its stake in Fortuna Silver Mines by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 141,305 shares of the basic materials company’s stock worth $660,000 after buying an additional 5,858 shares during the period. Financial Management Professionals Inc. acquired a new stake in Fortuna Silver Mines during the 3rd quarter worth approximately $29,000. Finally, TD Asset Management Inc boosted its position in Fortuna Silver Mines by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 829,101 shares of the basic materials company’s stock valued at $4,054,000 after buying an additional 7,542 shares during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.