(FSM) Fortuna Silver Mines - Overview
Sector: Basic Materials | Industry: Gold | Exchange: NYSE (USA) | Market Cap: 2.833m USD | Total Return: 64.3% in 12m
Avg Turnover: 45.7M
EPS Trend: 97.3%
Qual. Beats: 0
Rev. Trend: 94.7%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Fortuna Mining Corp. is a Vancouver-based precious and base metal producer with operational assets in Argentina, Côte dIvoire, Mexico, Peru, and Senegal. The company manages a diversified portfolio including the Lindero and Séguéla gold mines alongside the Caylloma silver, lead, and zinc mine. Formerly known as Fortuna Silver Mines Inc., the firm rebranded in June 2024 to reflect its broader production profile beyond silver.
The company operates within the intermediate mining sector, where business models often focus on balancing geographic diversification with the high capital intensity of multi-national extraction. Unlike pure-play explorers, producers like Fortuna must manage the transition from resource discovery to active mine life extension and processing efficiency.
Investors can evaluate the underlying asset quality and valuation metrics of this miner on ValueRay. This data-driven approach helps distinguish between cyclical price movements and fundamental company performance.
- Gold production growth at Séguéla mine offsets declining silver output in Mexico
- Rising all-in sustaining costs impact margins across West African and Latin American operations
- Geopolitical instability and regulatory shifts in Mexico and Argentina threaten production continuity
- Volatility in spot gold and silver prices dictates primary revenue and cash flow
- Successful exploration results at Diamba Sud determine long-term gold reserve replacement capacity
| Net Income: 341.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 2.59 > 1.0 |
| NWC/Revenue: 55.71% < 20% (prev 28.74%; Δ 26.98% < -1%) |
| CFO/TA 0.22 > 3% & CFO 551.9m > Net Income 341.0m |
| Net Debt (-393.6m) to EBITDA (743.4m): -0.53 < 3 |
| Current Ratio: 3.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (332.8m) vs 12m ago 8.02% < -2% |
| Gross Margin: 54.55% > 18% (prev 0.35%; Δ 5.42k% > 0.5%) |
| Asset Turnover: 46.86% > 50% (prev 46.81%; Δ 0.05% > 0%) |
| Interest Coverage Ratio: 23.06 > 6 (EBITDA TTM 743.4m / Interest Expense TTM 23.9m) |
| A: 0.25 (Total Current Assets 891.9m - Total Current Liabilities 281.1m) / Total Assets 2.49b |
| B: 0.24 (Retained Earnings 586.9m / Total Assets 2.49b) |
| C: 0.24 (EBIT TTM 550.0m / Avg Total Assets 2.34b) |
| D: 2.66 (Book Value of Equity 1.74b / Total Liabilities 652.3m) |
| Altman-Z'' = 6.75 = AAA |
| DSRI: 0.71 (Receivables 73.0m/96.0m, Revenue 1.10b/1.02b) |
| GMI: 0.65 (GM 54.55% / 35.39%) |
| AQI: 0.76 (AQ_t 0.03 / AQ_t-1 0.04) |
| SGI: 1.07 (Revenue 1.10b / 1.02b) |
| TATA: -0.08 (NI 341.0m - CFO 551.9m) / TA 2.49b) |
| Beneish M = -3.76 (Cap -4..+1) = AAA |
As of May 29, 2026, the stock is trading at USD 9.81 with a total of 5,779,143 shares traded.
Over the past week, the price has changed by +4.03%,
over one month by +2.19%,
over three months by -28.18% and
over the past year by +64.32%.
Fortuna Silver Mines has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy FSM.
- StrongBuy: 1
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 14 | 42.7% |
P/E Trailing = 8.6574
P/E Forward = 5.4437
P/S = 2.5881
P/B = 1.5977
Revenue TTM = 1.10b USD
EBIT TTM = 550.0m USD
EBITDA TTM = 743.4m USD
Long Term Debt = 136.6m USD (from longTermDebt, last quarter)
Short Term Debt = 21.5m USD (from shortTermDebt, last quarter)
Debt = 282.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 72.8m
Net Debt = -393.6m USD (calculated: Debt 282.2m - CCE 675.8m)
Enterprise Value = 2.44b USD (2.83b + Debt 282.2m - CCE 675.8m)
Interest Coverage Ratio = 23.06 (Ebit TTM 550.0m / Interest Expense TTM 23.9m)
EV/FCF = 6.66x (Enterprise Value 2.44b / FCF TTM 366.3m)
FCF Yield = 15.02% (FCF TTM 366.3m / Enterprise Value 2.44b)
FCF Margin = 33.42% (FCF TTM 366.3m / Revenue TTM 1.10b)
Net Margin = 31.11% (Net Income TTM 341.0m / Revenue TTM 1.10b)
Gross Margin = 54.55% ((Revenue TTM 1.10b - Cost of Revenue TTM 498.2m) / Revenue TTM)
Gross Margin QoQ = 61.86% (prev 54.43%)
Tobins Q-Ratio = 0.98 (Enterprise Value 2.44b / Total Assets 2.49b)
Interest Expense / Debt = 8.45% (Interest Expense 23.9m / Debt 282.2m)
Taxrate = 32.74% (58.4m / 178.3m)
NOPAT = 370.0m (EBIT 550.0m * (1 - 32.74%))
Current Ratio = 3.17 (Total Current Assets 891.9m / Total Current Liabilities 281.1m)
Debt / Equity = 0.16 (Debt 282.2m / totalStockholderEquity, last quarter 1.77b)
Debt / EBITDA = -0.53 (Net Debt -393.6m / EBITDA 743.4m)
Debt / FCF = -1.07 (Net Debt -393.6m / FCF TTM 366.3m)
Total Stockholder Equity = 1.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 14.58% (Net Income 341.0m / Total Assets 2.49b)
RoE = 20.79% (Net Income TTM 341.0m / Total Stockholder Equity 1.64b)
RoCE = 30.96% (EBIT 550.0m / Capital Employed (Equity 1.64b + L.T.Debt 136.6m))
RoIC = 18.86% (NOPAT 370.0m / Invested Capital 1.96b)
WACC = 8.26% (E(2.83b)/V(3.11b) * Re(8.52%) + D(282.2m)/V(3.11b) * Rd(8.45%) * (1-Tc(0.33)))
Discount Rate = 8.52% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 15.56 | Cagr: 3.71%
[DCF] Terminal Value 77.97% ; FCFF base≈325.7m ; Y1≈373.3m ; Y5≈549.5m
[DCF] Fair Price = 28.59 (EV 8.27b - Net Debt -393.6m = Equity 8.66b / Shares 303.0m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.35 | EPS CAGR: 121.2% | SUE: -0.23 | # QB: 0
Revenue Correlation: 94.66 | Revenue CAGR: 18.25% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.39 | Chg30d=-11.36% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.39 | Chg30d=-13.33% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.51 | Chg30d=-6.65% | Revisions=-25% | GrowthEPS=+128.8% | GrowthRev=+51.2%
EPS next Year (2027-12-31): EPS=1.65 | Chg30d=-6.02% | Revisions=-25% | GrowthEPS=+9.5% | GrowthRev=+9.6%
[Analyst] Revisions Ratio: -25%