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Momentum Stock Watch: Fortuna Silver Mines Inc. (FSM)

-- Sunday, January 22, 2023, 10:40 --

Company Profile:

Fortuna Silver Mines Inc. engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d’Ivoire. The company was formerly known as Fortuna Ventures Inc. and changed its name to Fortuna Silver Mines Inc. in June 2005. Fortuna Silver Mines Inc. was incorporated in 1990 and is based in Vancouver, Canada.

Recent News:

On Jan. 17, 2023, the company reported production results for the fourth quarter and full year 2022 from its four operating mines in the Americas and West Africa. For the full year 2022, the Company produced 259,427 ounces of gold and 6,907,275 ounces of silver or 401,878 gold equivalent1 ounces.

On Dec. 21, 2022, the company was pleased to announce that it has published its Global Industry Standard on Tailings Management (GISTM) position statement, which articulates Fortuna’s approach to tailings management along with its implementation commitments.

For the third quarter of 2022, the company reported gold and silver production of 66,344 ounces and 1,837,506 ounces, respectively. An increase of 1% and 7% respectively compared to the third quarter of 2021. Gold equivalent production of 101,8403 ounces.


Fundamental Analysis:

Ninestocks analyzes several different financial aspects:

Price to Book Value – P/BV, a ratio used to compare book value to its current market price, to gauge whether a stock is valued properly.


Price to Earnings – PE, the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS).


Discounted cash flow – DCF, a valuation method used to estimate the value of an investment based on its expected future cash flows.


Return on Assets – ROA, indicates how profitable a company is in relation to its total assets, how efficiently uses assets to generate a profit.


Return on Equity – ROE, a measure of financial performance calculated by dividing net income by equity. a gauge of profitability and efficiency.


Debt to Equity – evaluate financial leverage, reflects the ability of equity to cover outstanding debts in the event of a business downturn.



FSM receives outperform rating in price to book value and discounted cash flow. Technical indicators signal the bullish signs, as there is a bullish crossover in the Stochastic oscillator, the MACD is trying to cross back up and the RSI(14) stands at 54.4 with positive bias. We rate Fortuna Silver Mines Inc. (FSM) a STRONG BUY.

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