Fortuna Silver Mines Inc (FSM) to Post FY2019 Earnings of $0.12 Per Share, National Bank Financial Forecasts

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Fortuna Silver Mines Inc (NYSE:FSM) (TSE:FVI) – National Bank Financial increased their FY2019 earnings per share estimates for Fortuna Silver Mines in a report released on Monday, May 20th. National Bank Financial analyst D. Demarco now forecasts that the basic materials company will post earnings of $0.12 per share for the year, up from their prior forecast of $0.11. National Bank Financial also issued estimates for Fortuna Silver Mines’ FY2020 earnings at $0.53 EPS.

Fortuna Silver Mines (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Tuesday, May 14th. The basic materials company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $59.00 million during the quarter, compared to analysts’ expectations of $62.60 million. Fortuna Silver Mines had a return on equity of 4.94% and a net margin of 8.90%. The business’s quarterly revenue was down 16.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share.

Several other research firms also recently weighed in on FSM. Canaccord Genuity downgraded shares of Fortuna Silver Mines from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, CIBC downgraded shares of Fortuna Silver Mines from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $6.25.

NYSE:FSM opened at $2.51 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $411.05 million, a PE ratio of 15.12 and a beta of 0.15. Fortuna Silver Mines has a twelve month low of $2.47 and a twelve month high of $5.94.

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley raised its stake in Fortuna Silver Mines by 15.4% during the first quarter. Morgan Stanley now owns 3,198,984 shares of the basic materials company’s stock worth $10,717,000 after purchasing an additional 427,027 shares during the period. Man Group plc raised its stake in Fortuna Silver Mines by 73.7% during the first quarter. Man Group plc now owns 251,001 shares of the basic materials company’s stock worth $840,000 after purchasing an additional 106,526 shares during the period. Goldman Sachs Group Inc. raised its stake in Fortuna Silver Mines by 77.4% during the first quarter. Goldman Sachs Group Inc. now owns 645,184 shares of the basic materials company’s stock worth $2,161,000 after purchasing an additional 281,562 shares during the period. Oxford Asset Management LLP raised its stake in shares of Fortuna Silver Mines by 460.2% in the 1st quarter. Oxford Asset Management LLP now owns 518,836 shares of the basic materials company’s stock valued at $1,738,000 after acquiring an additional 426,228 shares during the period. Finally, Global Strategic Management Inc. raised its stake in shares of Fortuna Silver Mines by 12.2% in the 1st quarter. Global Strategic Management Inc. now owns 1,854,243 shares of the basic materials company’s stock valued at $6,212,000 after acquiring an additional 202,286 shares during the period. 41.66% of the stock is currently owned by institutional investors.

About Fortuna Silver Mines

Fortuna Silver Mines Inc engages in the exploration, extraction, and processing of precious and base metal deposits in Latin America. The company explores for silver, gold, lead, and zinc deposits. Its principal properties include the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver-gold mine located in southern Mexico; and the Lindero gold project located in Argentina.

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Earnings History and Estimates for Fortuna Silver Mines (NYSE:FSM)

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