FSM FY2024 EPS Forecast Cut by National Bank Financial

Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI - National Bank Financial decreased their FY2024 earnings estimates for Fortuna Silver Mines in a research note issued to investors on Monday, February 10th. National Bank Financial analyst D. Demarco now anticipates that the basic materials company will earn $0.51 per share for the year, down from their previous forecast of $0.53. The consensus estimate for Fortuna Silver Mines' current full-year earnings is $0.52 per share.

Separately, Scotiabank decreased their price objective on Fortuna Silver Mines from $6.75 to $6.00 and set a "sector perform" rating for the company in a research note on Wednesday, January 15th.

Fortuna Silver Mines Trading Down 4.6 %

FSM traded down $0.25 during trading on Thursday, reaching $5.14. 15,470,582 shares of the company's stock were exchanged, compared to its average volume of 12,419,509. The company's fifty day moving average price is $4.66 and its 200-day moving average price is $4.70. The firm has a market capitalization of $1.58 billion, a PE ratio of 64.20 and a beta of 1.56. Fortuna Silver Mines has a fifty-two week low of $2.63 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94.

Institutional Trading of Fortuna Silver Mines

Hedge funds have recently modified their holdings of the company. Man Group plc lifted its holdings in Fortuna Silver Mines by 127.3% during the fourth quarter. Man Group plc now owns 1,485,494 shares of the basic materials company's stock worth $6,373,000 after acquiring an additional 831,994 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Fortuna Silver Mines by 29.0% in the 4th quarter. Nuveen Asset Management LLC now owns 303,857 shares of the basic materials company's stock valued at $1,304,000 after purchasing an additional 68,350 shares during the period. Gotham Asset Management LLC acquired a new stake in Fortuna Silver Mines during the 4th quarter worth approximately $3,562,000. Deutsche Bank AG lifted its stake in Fortuna Silver Mines by 2.4% in the fourth quarter. Deutsche Bank AG now owns 883,993 shares of the basic materials company's stock valued at $3,792,000 after buying an additional 20,807 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Fortuna Silver Mines by 17.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company's stock valued at $35,779,000 after buying an additional 1,219,864 shares during the period. 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.