Fortuna Silver Mines ( (FSM) ) has released its Q3 earnings. Here is a breakdown of the information Fortuna Silver Mines presented to its investors.
Fortuna Mining Corp., formerly known as Fortuna Silver Mines Inc., is a precious and base metal mining company operating in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru, with its shares listed on the NYSE and TSX. The latest earnings report for the three and nine months ending September 30, 2024, highlights a steady increase in financial performance compared to the previous year. The company reported a significant rise in sales, with $274.9 million for the three months and $759.8 million for the nine months, up from $243.1 million and $577.1 million respectively in 2023. Net income also increased substantially, reaching $54.4 million for the three months and $126.8 million for the nine months in 2024, compared to $30.9 million and $46.2 million in the same periods of the previous year. Earnings per share reflected this growth as well, with basic and diluted earnings per share at $0.16 for the three months and $0.38 for the nine months of 2024, compared to $0.09 and $0.14 in 2023. The company has also managed to improve its cash position, ending the period with $180.6 million in cash and cash equivalents, a substantial increase from $117.8 million in 2023. Looking forward, Fortuna Mining Corp. continues to focus on optimizing its operations and increasing shareholder value, while maintaining a solid financial foundation.
