Q3 EPS Forecast for Fortuna Silver Mines Reduced by Analyst

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

Separately, Scotiabank increased their target price 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 Stock Down 1.7 %

FSM opened at $5.20 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.51 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.59 billion, a P/E ratio of -47.27 and a beta of 1.60. Fortuna Silver Mines has a 52 week low of $2.63 and a 52 week high of $6.36. The business’s fifty day simple moving average is $4.74 and its 200 day simple moving average is $4.91.

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

Hedge Funds Weigh In On Fortuna Silver Mines

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its holdings in shares of Fortuna Silver Mines by 273.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company’s stock worth $6,180,000 after purchasing an additional 925,084 shares during the period. K2 Principal Fund L.P. purchased a new position in shares of Fortuna Silver Mines in the 2nd quarter worth about $550,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Fortuna Silver Mines by 165.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company’s stock worth $27,176,000 after purchasing an additional 3,467,562 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fortuna Silver Mines by 5.1% in the 1st 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 purchasing an additional 388,903 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Fortuna Silver Mines in the 4th quarter worth about $77,000. 33.80% of the stock is currently 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.