Fortuna Silver Mines (NYSE:FSM) Posts Earnings Results, Misses Expectations By $0.09 EPS

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.09), Zacks reports. The company had revenue of $302.20 million during the quarter, compared to analysts’ expectations of $301.65 million. Fortuna Silver Mines had a return on equity of 10.08% and a net margin of 2.45%.

Fortuna Silver Mines Stock Performance

Shares of FSM opened at $4.63 on Friday. Fortuna Silver Mines has a 12 month low of $2.93 and a 12 month high of $6.36. The business’s fifty day simple moving average is $4.63 and its two-hundred day simple moving average is $4.71. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 57.82 and a beta of 1.56. The company has a current ratio of 1.94, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FSM. Scotiabank cut their target price on Fortuna Silver Mines from $6.75 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. CIBC cut shares of Fortuna Silver Mines from a “neutral” rating to a “sector underperform” rating in a research note on Tuesday, February 18th. Finally, Cibc World Mkts lowered shares of Fortuna Silver Mines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.00.

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.