GoAI
Get started
Fortuna Mining Corp. logo

Fortuna Mining Corp.

FSM

NYSEBasic MaterialsGold

Open in GoAI

Previous close

$12.07

+$0.17 · +1.43%

Aug 21, 4:00 PM ET

FSM company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

89

Deep Value

Momentum

31

Weakening

Sentiment

56

Mixed

Risk resilience

30

High Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

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.

Industry
Gold
Sector
Basic Materials
Headquarters
CA
CEO
Jorge A. Ganoza Durant
Listed since
Jan 8, 2007
Employees
4,294

Market position

Day range

Current $12.07

52-week range

Current $12.07

Open
$12.245
Previous close
$11.90
Volume
6.96M
1.29× average
Average volume
5.38M
Average daily volume
Market cap
3.66B USD
Beta
2.12
Market reference 1
50-day average
$9.1702
+31.62% above average
200-day average
$9.8676
+22.32% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
2.72B USD
P/E (TTM)
9.73×
P/B (TTM)
2.06×
P/S (TTM)
3.09×
EV / EBITDA
4.33×
Earnings yield
10.04%
Free cash flow yield
9.78%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
57.12%
Operating margin
52.46%
Net margin
32.02%
Return on equity
18.05%
Return on assets
12.51%
Return on invested capital
12.24%

Financial health

Debt / equity
0.13×
Current ratio
2.98×
Altman Z-score
5.14
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends55%28%1%-26%Gross margin, FY2021: 34.25%Gross margin, FY2022: 21.54%Gross margin, FY2023: 22.56%Gross margin, FY2024: 32.35%Gross margin, FY2025: 48.74%Operating margin, FY2021: 22.82%Operating margin, FY2022: -16.66%Operating margin, FY2023: -0.05%Operating margin, FY2024: 21.47%Operating margin, FY2025: 38.52%Net margin, FY2021: 9.65%Net margin, FY2022: -18.80%Net margin, FY2023: -6.03%Net margin, FY2024: 12.12%Net margin, FY2025: 31.47%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 34.25%. Gross margin FY2022 21.54%. Gross margin FY2023 22.56%. Gross margin FY2024 32.35%. Gross margin FY2025 48.74%. Operating margin FY2021 22.82%. Operating margin FY2022 -16.66%. Operating margin FY2023 -0.05%. Operating margin FY2024 21.47%. Operating margin FY2025 38.52%. Net margin FY2021 9.65%. Net margin FY2022 -18.80%. Net margin FY2023 -6.03%. Net margin FY2024 12.12%. Net margin FY2025 31.47%.

Income trends

Revenue

960.06M USD-9.60%

Operating income

369.8M USD+62.16%

Net income

302.13M USD+134.69%
Income trends across reported periods1.18B USD704.99M USD228.92M USD−247.15M USDRevenue, FY2021: 599.85M USDRevenue, FY2022: 681.49M USDRevenue, FY2023: 842.43M USDRevenue, FY2024: 1.06B USDRevenue, FY2025: 960.06M USDOperating income, FY2021: 136.88M USDOperating income, FY2022: −113.55M USDOperating income, FY2023: −407K USDOperating income, FY2024: 228.05M USDOperating income, FY2025: 369.8M USDNet income, FY2021: 57.88M USDNet income, FY2022: −128.13M USDNet income, FY2023: −50.84M USDNet income, FY2024: 128.74M USDNet income, FY2025: 302.13M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 599.85M USD. Revenue FY2022 681.49M USD. Revenue FY2023 842.43M USD. Revenue FY2024 1.06B USD. Revenue FY2025 960.06M USD. Operating income FY2021 136.88M USD. Operating income FY2022 −113.55M USD. Operating income FY2023 −407K USD. Operating income FY2024 228.05M USD. Operating income FY2025 369.8M USD. Net income FY2021 57.88M USD. Net income FY2022 −128.13M USD. Net income FY2023 −50.84M USD. Net income FY2024 128.74M USD. Net income FY2025 302.13M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue960.06M USD1.06B USD842.43M USD681.49M USD599.85M USD
Cost of goods sold492.08M USD718.43M USD652.4M USD534.7M USD394.38M USD
Gross profit467.98M USD343.61M USD190.03M USD146.8M USD205.48M USD
Selling, general, and administrative98.18M USD77.79M USD64.07M USD61.46M USD45.36M USD
Operating expenses98.18M USD115.56M USD190.43M USD260.35M USD68.6M USD
Interest income14.8M USD4.32M USD3.35M USD1.78M USD1.83M USD
Interest expense25.06M USD24.32M USD22.15M USD11.09M USD10.22M USD
Depreciation and amortization196.6M USD238M USD219.69M USD172.81M USD122.27M USD
Operating income369.8M USD228.05M USD−407K USD−113.55M USD136.88M USD
Net income302.13M USD128.74M USD−50.84M USD−128.13M USD57.88M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
18%
2 beats, 9 misses, 0 met estimates
Average EPS surprise
-10.23%
11 comparable reports
Latest EPS result
0.24
Estimate 0.29 · Miss by 18.56%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.470.320.180.03Q1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 6, 2025: actual 0.031, estimate 0.2, surprise -84.75%, Miss. Q2 2025, reported May 7, 2025: actual 0.2, estimate 0.21, surprise -4.76%, Miss. Q3 2025, reported Aug 6, 2025: actual 0.14, estimate 0.22, surprise -36.36%, Miss. Q4 2025, reported Nov 5, 2025: actual 0.15, estimate 0.259, surprise -41.97%, Miss. Q1 2026, reported Feb 18, 2026: actual 0.22, estimate 0.225, surprise -2.40%, Miss. Q2 2026, reported May 6, 2026: actual 0.35, estimate 0.373, surprise -6.27%, Miss. Q3 2026, reported Aug 5, 2026: actual 0.24, estimate 0.295, surprise -18.56%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.434, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates357.13M310.31M263.5M216.68MQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 6, 2025: actual 302.24M USD, estimate 301.76M USD, surprise +0.16%, Beat. Q2 2025, reported May 7, 2025: actual 290.15M USD, estimate 291.4M USD, surprise -0.43%, Miss. Q3 2025, reported Aug 6, 2025: actual 230.42M USD, estimate 245.3M USD, surprise -6.07%, Miss. Q4 2025, reported Nov 5, 2025: actual 251.36M USD, estimate 247.3M USD, surprise +1.64%, Beat. Q1 2026, reported Feb 18, 2026: actual 270.24M USD, estimate 264.94M USD, surprise +2.00%, Beat. Q2 2026, reported May 6, 2026: actual 342.47M USD, estimate 340M USD, surprise +0.73%, Beat. Q3 2026, reported Aug 5, 2026: actual 318.41M USD, estimate 325M USD, surprise -2.03%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 343.39M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$14.50

20.13% upside
Past 12 months12-month forecastHigh $14.50Average $14.50Low $14.50

Rating distribution

6 ratings
Strong buy00%
Buy467%
Hold117%
Sell117%
Strong sell00%

Recent analyst actions

3 institutions
CIBCmaintainUnderperform
National Bank Financial IncmaintainSector Perform

FSM peers

BHP Group Limited logo

BHP

BHP Group Limited

$97.03

+3.63%

Southern Copper Corporation logo

SCCO

Southern Copper Corporation

$216

+8.69%

Rio Tinto Group logo

RIO

Rio Tinto Group

$105.3

+3.06%

Newmont Corporation logo

NEM

Newmont Corporation

$131.58

+3.09%

Freeport-McMoRan Inc. logo

FCX

Freeport-McMoRan Inc.

$76.67

+7.65%

Agnico Eagle Mines Limited logo

AEM

Agnico Eagle Mines Limited

$216.06

+1.90%

ETFs holding FSM

Funds reporting this stock among their holdings, ordered by reported position size.

VanEck Gold Miners ETF logoVanEck Gold Miners ETFGDX
Market value
136.45M
Weight
0.44%
AUM
31.98B USD
Expense ratio
0.51%
Price / 1D
$102.83+2.98%
VanEck Junior Gold Miners ETF logoVanEck Junior Gold Miners ETFGDXJ
Market value
81.42M
Weight
0.85%
AUM
9.86B USD
Expense ratio
0.52%
Price / 1D
$132.59+2.67%
Dimensional - International Small Cap Value ETF logoDimensional - International Small Cap Value ETFDISV
Market value
25.53M
Weight
0.49%
AUM
5.23B USD
Expense ratio
0.42%
Price / 1D
$44.49+0.86%
U.S. Global GO GOLD and Precious Metal Miners ETF logoU.S. Global GO GOLD and Precious Metal Miners ETFGOAU
Market value
8.98M
Weight
4.06%
AUM
163.22M USD
Expense ratio
0.60%
Price / 1D
$49.7798+2.55%
Dimensional - International Small Cap ETF logoDimensional - International Small Cap ETFDFIS
Market value
7.86M
Weight
0.13%
AUM
5.91B USD
Expense ratio
0.39%
Price / 1D
$37.545+0.71%
Dimensional - International Core Equity 2 ETF logoDimensional - International Core Equity 2 ETFDFIC
Market value
7.78M
Weight
0.05%
AUM
15.43B USD
Expense ratio
0.22%
Price / 1D
$39.405+0.83%
Dimensional - International Core Equity Market ETF logoDimensional - International Core Equity Market ETFDFAI
Market value
3.11M
Weight
0.02%
AUM
18.23B USD
Expense ratio
0.18%
Price / 1D
$43.35+0.81%
Dimensional World ex U.S. Core Equity 2 ETF logoDimensional World ex U.S. Core Equity 2 ETFDFAX
Market value
2.74M
Weight
0.02%
AUM
12.57B USD
Expense ratio
0.28%
Price / 1D
$38.16+0.82%

Continue in GoAI

Research FSM

research.disclaimer