Fortuna Silver Mines Inc. Expected to Post FY2024 Earnings of ($0.36) Per Share (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSMFree Report) (TSE:FVI) – Equities researchers at National Bank Financial dropped their FY2024 EPS estimates for shares of Fortuna Silver Mines in a note issued to investors on Monday, February 5th. National Bank Financial analyst D. Demarco now expects that the basic materials company will post earnings per share of ($0.36) for the year, down from their prior forecast of ($0.35). The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.23 per share.

Fortuna Silver Mines (NYSE:FSMGet Free Report) (TSE:FVI) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $243.06 million for the quarter. Fortuna Silver Mines had a negative net margin of 15.98% and a positive return on equity of 4.01%. During the same period in the previous year, the business earned $0.01 EPS.

A number of other equities research analysts have also recently issued reports on FSM. StockNews.com cut shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet raised shares of Fortuna Silver Mines from a “d+” rating to a “c-” rating in a research note on Wednesday, December 13th.

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Fortuna Silver Mines Price Performance

Fortuna Silver Mines stock opened at $2.91 on Thursday. The company’s fifty day moving average price is $3.55 and its 200 day moving average price is $3.24. Fortuna Silver Mines has a 1 year low of $2.58 and a 1 year high of $4.20. The stock has a market capitalization of $892.18 million, a P/E ratio of -7.66 and a beta of 1.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.27 and a current ratio of 2.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Fortuna Silver Mines by 7.9% in the 4th quarter. Van ECK Associates Corp now owns 32,396,826 shares of the basic materials company’s stock valued at $125,050,000 after purchasing an additional 2,361,636 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Fortuna Silver Mines by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,566,641 shares of the basic materials company’s stock valued at $29,266,000 after purchasing an additional 146,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fortuna Silver Mines by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,002,409 shares of the basic materials company’s stock valued at $19,309,000 after purchasing an additional 553,722 shares in the last quarter. Euro Pacific Asset Management LLC lifted its holdings in Fortuna Silver Mines by 2.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,579,271 shares of the basic materials company’s stock valued at $12,460,000 after purchasing an additional 100,307 shares in the last quarter. Finally, Ruffer LLP lifted its holdings in Fortuna Silver Mines by 59.0% in the 3rd quarter. Ruffer LLP now owns 3,368,940 shares of the basic materials company’s stock valued at $9,206,000 after purchasing an additional 1,250,000 shares in the last quarter. Hedge funds and other institutional investors own 31.19% of the company’s stock.

About Fortuna Silver Mines

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Fortuna Silver Mines Inc engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine located in southern Mexico; the Lindero gold project located in Northern Argentina; Yaramoko gold mine located in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire.

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