Scotiabank Predicts Higher Earnings for Fortuna Silver Mines

Fortuna Silver Mines Inc. (NYSE:FSM) (TSE:FVI) – Investment analysts at Scotiabank increased their FY2024 earnings 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 earn $0.52 per share 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 Fortuna Silver Mines stock opened at $4.40 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.12. Fortuna Silver Mines has a 52-week low of $2.63 and a 52-week high of $6.36. The company has a market capitalization of $1.35 billion, a P/E ratio of 55.01 and a beta of 1.55. The company has a 50 day moving average of $4.67 and a 200 day moving average of $4.74.

Institutional Investors Weigh In On Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in shares of Fortuna Silver Mines during the third quarter worth $29,000. Private Advisor Group LLC acquired a new position in shares of Fortuna Silver Mines during the 3rd quarter worth about $50,000. Choreo LLC purchased a new position in shares of Fortuna Silver Mines in the 2nd quarter valued at about $59,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fortuna Silver Mines in the 2nd quarter valued at about $92,000. Finally, AE Wealth Management LLC acquired a new stake in shares of Fortuna Silver Mines during the 2nd quarter worth about $118,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

About Fortuna Silver Mines

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.