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Fortuna Silver Mines Inc (FSM)



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Upturn Advisory Summary
09/12/2025: FSM (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $8
1 Year Target Price $8
1 | Strong Buy |
1 | Buy |
2 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -10.74% | Avg. Invested days 27 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.57B USD | Price to earnings Ratio 15.18 | 1Y Target Price 8 |
Price to earnings Ratio 15.18 | 1Y Target Price 8 | ||
Volume (30-day avg) 5 | Beta 1.27 | 52 Weeks Range 4.13 - 8.64 | Updated Date 09/14/2025 |
52 Weeks Range 4.13 - 8.64 | Updated Date 09/14/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.55 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 13.28% | Operating Margin (TTM) 35.1% |
Management Effectiveness
Return on Assets (TTM) 9.3% | Return on Equity (TTM) 13.09% |
Valuation
Trailing PE 15.18 | Forward PE 10.21 | Enterprise Value 2391073977 | Price to Sales(TTM) 2.16 |
Enterprise Value 2391073977 | Price to Sales(TTM) 2.16 | ||
Enterprise Value to Revenue 2.01 | Enterprise Value to EBITDA 4.24 | Shares Outstanding 306960000 | Shares Floating 304050005 |
Shares Outstanding 306960000 | Shares Floating 304050005 | ||
Percent Insiders 0.52 | Percent Institutions 72.45 |
Upturn AI SWOT
Fortuna Silver Mines Inc

Company Overview
History and Background
Fortuna Silver Mines Inc. was founded in 2003. It is a Canadian precious metals mining company with a focus on silver and gold production in Latin America and West Africa. The company has grown through exploration, development, and acquisition of mining projects.
Core Business Areas
- Mining Operations: Exploration, development, and production of silver, gold, and base metals from its mining operations.
- Exploration and Development: Advancing its portfolio of exploration and development projects to expand its resource base and production capacity.
Leadership and Structure
Jorge A. Ganoza Durant is the President, CEO, and Co-Founder. The company has a board of directors overseeing corporate governance and strategic direction.
Top Products and Market Share
Key Offerings
- Silver Production: Fortuna's primary product is silver. While specific market share data is difficult to pinpoint precisely due to the fragmented nature of the silver mining industry, Fortuna is a significant producer. Competitors include Fresnillo, Pan American Silver, and Hecla Mining Company. Silver contributes approximately 30% of overall revenue.
- Gold Production: Gold is a significant by-product and increasingly primary product from Fortuna's mines. Like silver, exact market share is hard to define; significant competitors are Newmont Corporation, Barrick Gold and Agnico Eagle Mines. Gold contributes approximately 70% of overall revenue.
- Lead and Zinc: Lead and zinc are byproducts contributing to revenue generation. The total market share cannot be found but it is considered to be low.
Market Dynamics
Industry Overview
The precious metals mining industry is driven by global economic conditions, investor demand for safe-haven assets, industrial uses of silver and gold, and geopolitical factors. Metal prices are volatile and subject to market speculation.
Positioning
Fortuna Silver Mines Inc. is a mid-tier precious metals producer with operations in Latin America and West Africa. Its competitive advantages include its diverse portfolio of mines, experienced management team, and focus on cost control.
Total Addressable Market (TAM)
The global silver market is estimated to be worth hundreds of billions of dollars, and the gold market is even larger. Fortuna Silver Mines captures a small percentage of this TAM. The company's positioning relative to TAM is expanding, dependent on successful project developments.
Upturn SWOT Analysis
Strengths
- Diversified Asset Portfolio
- Experienced Management Team
- Proven Track Record of Mine Development
- Strong Focus on Cost Efficiency
- Increasing Gold Production
Weaknesses
- Political Risk in Operating Countries
- Sensitivity to Metal Price Volatility
- Operational Challenges at Certain Mines
- Debt Levels
- High Dependence on Silver and Gold Prices
Opportunities
- Expansion of Existing Mines
- Acquisition of New Projects
- Exploration Success Leading to Resource Growth
- Increased Demand for Silver in Green Technologies
- Positive Developments for Gold Demand
Threats
- Declining Metal Prices
- Increased Operating Costs
- Geopolitical Instability
- Environmental Regulations
- Competition from Larger Mining Companies
Competitors and Market Share
Key Competitors
- PAAS
- HL
- AG
- SSR Mining Inc (SSRM)
Competitive Landscape
Fortuna is a mid-tier producer. Competitors are larger, more diversified companies. Fortuna differentiates through focus on operational efficiency.
Major Acquisitions
Roxgold Inc.
- Year: 2021
- Acquisition Price (USD millions): 880
- Strategic Rationale: Acquisition provided access to the Yaramoko Gold Mine and Su00e9guu00e9la gold project, expanding Fortuna's gold production and geographic diversification.
Growth Trajectory and Initiatives
Historical Growth: Fortuna Silver Mines has grown through acquisitions and expansion of its existing mines.
Future Projections: Future growth relies on exploration success, mine expansions, and metal prices. Analyst estimates vary but generally project continued production growth. However, actual revenue depends on the metal prices and inflation rates.
Recent Initiatives: Recent initiatives include the ramp-up of the Su00e9guu00e9la gold mine in Cu00f4te d'Ivoire and exploration efforts at existing operations.
Summary
Fortuna Silver Mines is a precious metals producer with a diversified asset base and is experiencing growth due to the Su00e9guu00e9la Gold mine ramp up. Political risk in operating countries and metal price volatility remain key risks. The company focuses on operational efficiency to maintain a competitive edge. Fortuna must effectively manage these challenges to achieve sustainable growth and deliver shareholder value.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC Filings
- Company Press Releases
- Industry Reports
- Analyst Estimates
- Market data from financial websites (Yahoo Finance, Google Finance)
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market data and analyst estimates are subject to change and may not be accurate. Mining companies are by nature a risky investment, and the data that is presented may have been provided by the companies themselves.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Fortuna Silver Mines Inc
Exchange NYSE | Headquaters Vancouver, BC, Canada | ||
IPO Launch date 2007-01-08 | Co-Founder, President, CEO & Director Mr. Jorge A. Ganoza Durant B.Sc., Eng | ||
Sector Basic Materials | Industry Gold | Full time employees - | Website https://www.fortunamining.com |
Full time employees - | Website https://www.fortunamining.com |
Fortuna Mining Corp. engages in the precious and base metal mining and related activities in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, Peru, and Senegal. The company operates through Mansfield, Sanu, Sango, Cuzcatlan, and Bateas segments. It operates the Lindero gold mine, the Yaramoko gold mine, the Séguéla gold mine, and the San Jose silver-gold mine, as well as the Caylloma silver, lead, and zinc mine. The company was formerly known as Fortuna Silver Mines Inc. and changed its name to Fortuna Mining Corp. in June 2024. Fortuna Mining Corp. was incorporated in 1990 and is based in Vancouver, Canada.

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