Scotiabank Has Bullish Forecast for FSM FY2024 Earnings

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

Fortuna Silver Mines Price Performance

NYSE FSM opened at $4.51 on Friday. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36. The company has a fifty day simple moving average of $4.67 and a 200 day simple moving average of $4.74. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.38 billion, a P/E ratio of 56.38 and a beta of 1.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in shares of Fortuna Silver Mines in the third quarter worth $29,000. Private Advisor Group LLC acquired a new stake in Fortuna Silver Mines in the 3rd quarter worth $50,000. Choreo LLC bought a new position in shares of Fortuna Silver Mines during the 2nd quarter worth about $59,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fortuna Silver Mines during the second quarter valued at about $92,000. Finally, AE Wealth Management LLC bought a new stake in shares of Fortuna Silver Mines in the second quarter valued at about $118,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.