National Bank Financial Comments on Fortuna Silver Mines Inc.’s Q2 2024 Earnings (NYSE:FSM)

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Investment analysts at National Bank Financial raised their Q2 2024 earnings estimates for shares of Fortuna Silver Mines in a research report issued on Tuesday, July 16th. National Bank Financial analyst D. Demarco now anticipates that the basic materials company will post earnings per share of $0.16 for the quarter, up from their previous estimate of $0.07. The consensus estimate for Fortuna Silver Mines’ current full-year earnings is $0.54 per share. National Bank Financial also issued estimates for Fortuna Silver Mines’ FY2024 earnings at $0.54 EPS.

Several other equities research analysts also recently issued reports on FSM. Scotiabank raised their price objective on shares of Fortuna Silver Mines from $4.75 to $6.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Fortuna Silver Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th.

Fortuna Silver Mines Trading Down 0.4 %

Shares of NYSE:FSM opened at $5.02 on Friday. Fortuna Silver Mines has a 52-week low of $2.58 and a 52-week high of $6.36. The company has a market capitalization of $1.54 billion, a P/E ratio of -45.63 and a beta of 1.57. The company has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $4.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.76 and a current ratio of 1.27.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last issued its earnings results on Tuesday, May 7th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. Fortuna Silver Mines had a negative net margin of 3.94% and a positive return on equity of 6.04%. The business had revenue of $224.95 million during the quarter.

Institutional Investors Weigh In On Fortuna Silver Mines

Several hedge funds have recently bought and sold shares of FSM. Perritt Capital Management Inc. lifted its position in Fortuna Silver Mines by 40.0% during the first quarter. Perritt Capital Management Inc. now owns 10,500 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 3,000 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Fortuna Silver Mines during the first quarter worth approximately $56,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Fortuna Silver Mines during the fourth quarter worth approximately $77,000. Daiwa Securities Group Inc. bought a new position in shares of Fortuna Silver Mines during the first quarter worth approximately $77,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Fortuna Silver Mines during the first quarter worth approximately $78,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Silver Mines Company Profile

Fortuna Silver Mines Inc 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.