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Does Fortuna Silver Mines Inc. (NYSE: FSM) Still Need To Convince Analysts?

Fortuna Silver Mines Inc. (NYSE:FSM) traded at $3.59 at last check on Tuesday, November 22, made an upward move of 6.21% on its previous day’s price.

Looking at the stock we see that its previous close was $3.38 and the beta (5Y monthly) reads 1.21 with the day’s price range being $3.31 – $3.40. The company has a trailing 12-month PE ratio of 28.17. In terms of its 52-week price range, FSM has a high of $4.68 and a low of $2.05. The company’s stock has gained about 19.01% over that past 30 days.

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Fortuna Silver Mines Inc. has a market cap of $980.82 million and is expected to release its quarterly earnings report on Nov 10, 2022. Estimates by analysts give the company expected earnings per share (EPS) of $0.03, with the EPS growth for the year raised at $0.17 for 2022 and $0.25 for next year. These figures represent -57.50% and 47.10% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $161.1 million, with a low of $159 million and a high of $163.2 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $679.14 million, or 13.20% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the FSM stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Buy.

Looking further, we note the current price level is 15.36% off its SMA20 and 29.35% from its 50-day simple moving average. The RSI (14) is pointing at 66.92 while the volatility over the past week is 3.88% and jumps to 5.36% over the past one month. The average price target for the stock over the next 12 months is $4.10, with the estimates having a low of $3.75 and a high of $4.50. These price ends are -4.46% and -25.35% off the today’s price level respectively, although investors could be excited at the prospect of a -14.76% if the FSM share price touches on the median price of $4.12.

Let’s briefly compare Fortuna Silver Mines Inc. (FSM) stock to its peers. We find that today’s price change of 6.21% and -11.75% over the past 12 months for FSM. Another of its peers Seabridge Gold Inc. (SA) has gained 3.83% today, and was -40.43% down over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to Fortuna Silver Mines Inc. (NYSE:FSM), we note that the average 3-month trading volume was 4.91 million, while that of the preceding 10-day period stands at 5.55 million. Current shares outstanding are 290.18 million.

The insiders hold 0.91% of the company’s shares while institutions hold 37.68%. The data shows that short shares as of Oct 13, 2022, stood at 13.0 million at a short ratio of 2.26. This represents a 4.46% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 14.93 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -13.33% down in year-to-date price movement.

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