Basic Materials · Gold
Price
$8.51
Market Cap
$2.6B
Employees
4,961
Beta
2.08
Avg Volume
6,001,975
CEO
Jorge A. Ganoza Durant
Business Description
Fortuna Silver Mines Inc. specializes in the procurement, prospecting, and mining of precious and base metals. The company conducts its operations across five countries: Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. Its portfolio comprises several key properties, such as the Caylloma mine in southern Peru, which produces silver, lead, and zinc; the San Jose silver and gold mine located in southern Mexico; Argentina's Lindero gold project; the Yaramoko gold mine in southwestern Burkina Faso; and the Séguéla gold mine, also found in southwestern Côte d'Ivoire. Founded in 1990, the firm initially operated under the name Fortuna Ventures Inc., before officially changing to Fortuna Silver Mines Inc. in June 2005. The company's headquarters are located in Vancouver, Canada.
Business History
Price Overview
Last updated: Jun 27, 2026 8:56am (just now)$8.51
+0.10 (+1.19%)
Day Range
$8.44 – $8.72
52-Week Range
$6.17 – $13.85
50-Day MA
$9.59
200-Day MA
$9.73
Volume
3,244,615.00
Analyst Price Targets
Low
$14.00
Consensus
$14.00
High
$14.00
(6 analysts)
Share Structure
Outstanding
302,957,387.00
Float
299,670,299.00
Free Float
98.9%
High free float
— 98.9% of shares trade freely, ~1.1% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
7.62
Stock Price: $8.51
EPS (Diluted): 0.98
EPS (Diluted): 0.98
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.80
Stock Price: $8.51
Total Equity: $1.67B
Shares: 334,896,000
Total Equity: $1.67B
Shares: 334,896,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
2.85
Market Cap: $2.58B
Total Debt: $210.91M
Cash: $552.98M
EBITDA: $628.84M
Total Debt: $210.91M
Cash: $552.98M
EBITDA: $628.84M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$2.7B
Market Cap: $2.58B
Total Debt: $210.91M
Cash: $552.98M
Total Debt: $210.91M
Cash: $552.98M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
48.7%
Gross Profit: $467.98M
Revenue: $960.06M
Revenue: $960.06M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
38.5%
Operating Income: $369.80M
Revenue: $960.06M
Revenue: $960.06M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
31.5%
Net Income: $302.13M
Revenue: $960.06M
Revenue: $960.06M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
20.8%
Net Income: $302.13M
Total Equity: $1.67B
Total Equity: $1.67B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
17.1%
Operating Income: $369.80M
Tax Rate: 27.8%
Equity: $1.67B
Total Debt: $210.91M
Cash: $552.98M
Tax Rate: 27.8%
Equity: $1.67B
Total Debt: $210.91M
Cash: $552.98M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.98
Current Assets: $763.14M
Current Liabilities: $255.91M
Current Liabilities: $255.91M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.13
Short-Term Debt: $21.16M
Long-Term Debt: $189.75M
Total Debt: $210.91M
Total Equity: $1.67B
Long-Term Debt: $189.75M
Total Debt: $210.91M
Total Equity: $1.67B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$2.87
Revenue: $960.06M
Shares: 334,896,000
Shares: 334,896,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$5.00
Total Equity: $1.67B
Shares: 334,896,000
Shares: 334,896,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.88
Operating CF: $475.53M
CapEx: -$181.12M
Shares: 334,896,000
CapEx: -$181.12M
Shares: 334,896,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $8.51
Stock Price: $8.51
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $302.13M
Net Income: $302.13M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FSM against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:39pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $599.9M | $681.5M | $842.4M | $1.1B | $960.1M |
| Cost of Revenue | $394.4M | $534.7M | $652.4M | $718.4M | $492.1M |
| Gross Profit | $205.5M | $146.8M | $190.0M | $343.6M | $468.0M |
| Operating Expenses | $68.6M | $260.3M | $190.4M | $115.6M | $98.2M |
| Operating Income | $136.9M | -$113.6M | $-407,000 | $228.0M | $369.8M |
| Net Income | $57.9M | -$128.1M | -$50.8M | $128.7M | $302.1M |
| EBITDA | $242.0M | $59.1M | $230.8M | $474.3M | $628.8M |
| EPS | $0.24 | $-0.47 | $-0.17 | $0.42 | $0.98 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:39pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $107.1M | $80.5M | $128.1M | $231.3M | $553.0M |
| Total Current Assets | $281.1M | $252.7M | $333.3M | $486.2M | $763.1M |
| Total Assets | $2.0B | $1.9B | $2.0B | $2.1B | $2.4B |
| Current Liabilities | $166.8M | $135.1M | $243.8M | $256.0M | $255.9M |
| Long-Term Debt | $157.5M | $219.2M | $162.9M | $126.0M | $189.8M |
| Total Liabilities | $592.4M | $587.5M | $679.7M | $649.5M | $682.7M |
| Total Equity | $1.4B | $1.2B | $1.2B | $1.4B | $1.7B |
| Retained Earnings | $266.6M | $138.5M | $87.6M | $216.4M | $487.2M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:39pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $147.1M | $194.2M | $302.4M | $365.7M | $475.5M |
| Capital Expenditure | -$152.3M | -$251.2M | -$221.3M | -$203.8M | -$181.1M |
| Free Cash Flow | -$5.2M | -$57.0M | $81.1M | $161.9M | $294.4M |
| Acquisitions (net) | $40.3M | $0 | -$13.6M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | -$5.9M | $0 | -$34.1M | -$10.4M |
| Net Change in Cash | -$24.8M | -$26.6M | $47.0M | $103.2M | $321.8M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 4:48am (4h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$1.5B $1.4B – $1.6B
|
$2.0B $1.9B – $2.1B
|
$750.2M $727.5M – $792.0M
|
$705.4M $684.0M – $744.7M
|
| EBITDA |
$553.4M $524.3M – $609.3M
|
$731.7M $709.5M – $772.4M
|
$279.9M $271.5M – $295.5M
|
$263.2M $255.2M – $277.9M
|
| Net Income |
$556.0M $534.0M – $596.2M
|
$820.5M $788.2M – $879.9M
|
$726.7M $698.1M – $779.3M
|
$602.8M $579.1M – $646.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:39pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +13.6% | +23.6% | +26.1% | -9.6% |
| Gross Profit Growth | -28.6% | +29.4% | +80.8% | +36.2% |
| Operating Income Growth | -183.0% | +99.6% | +56,131.0% | +62.2% |
| Net Income Growth | -321.4% | +60.3% | +353.2% | +134.7% |
| EBITDA Growth | -75.6% | +290.8% | +105.5% | +32.6% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for FSM — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30