What is Scotiabank's Forecast for FSM FY2024 Earnings?

Fortuna Silver Mines Inc. (NYSE:FSM - Free Report) TSE: FVI - Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Fortuna Silver Mines in a research note issued on Wednesday, January 8th. Scotiabank analyst E. Winmill now anticipates 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 %

FSM traded down $0.11 during mid-day trading on Friday, reaching $4.40. 11,076,414 shares of the stock were exchanged, compared to its average volume of 10,062,719. The company has a 50 day moving average price of $4.67 and a two-hundred day moving average price of $4.74. The stock has a market capitalization of $1.35 billion, a PE ratio of 55.01 and a beta of 1.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.37 and a current ratio of 1.94. Fortuna Silver Mines has a 1 year low of $2.63 and a 1 year high of $6.36.

Hedge Funds Weigh In On Fortuna Silver Mines

A number of hedge funds and other institutional investors have recently modified their holdings of FSM. D. E. Shaw & Co. Inc. lifted its holdings in Fortuna Silver Mines by 165.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 5,557,376 shares of the basic materials company's stock worth $27,176,000 after acquiring an additional 3,467,562 shares during the period. Renaissance Technologies LLC increased its position in shares of Fortuna Silver Mines by 94.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,147,900 shares of the basic materials company's stock valued at $25,173,000 after purchasing an additional 2,507,249 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Fortuna Silver Mines by 28.2% during the 2nd quarter. American Century Companies Inc. now owns 4,839,145 shares of the basic materials company's stock worth $23,664,000 after purchasing an additional 1,065,370 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Fortuna Silver Mines by 273.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,263,905 shares of the basic materials company's stock worth $6,180,000 after buying an additional 925,084 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Fortuna Silver Mines by 323.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,075,479 shares of the basic materials company's stock valued at $5,005,000 after buying an additional 821,495 shares during the period. Hedge funds and other institutional investors 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.