Fortuna Silver Mines ( (FSM) ) has released its Q4 earnings. Here is a breakdown of the information Fortuna Silver Mines presented to its investors.
Fortuna Silver Mines is a mining company specializing in the production of precious metals, primarily gold and silver, with operations across several countries including Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru. Known for its diverse portfolio of mines, Fortuna is a significant player in the mining industry, focusing on sustainable and efficient mining practices.
In its latest earnings report for the fourth quarter and full year of 2024, Fortuna Silver Mines announced record financial performance with significant improvements in cash flow and profitability. The company reported a record free cash flow of $95.6 million for the fourth quarter, contributing to a total of $202.9 million for the year. Additionally, Fortuna achieved a positive net cash position of $58.8 million by the end of the year.
Key financial highlights include a 69% increase in free cash flow quarter-over-quarter and a 21% rise in net cash from operations. The company also reported an attributable net income of $11.3 million for the fourth quarter and $128.7 million for the full year. Fortuna’s gold equivalent production reached a record 455,958 ounces in 2024, meeting the low end of its annual guidance. The company also returned $30.6 million to shareholders through share repurchases.
Operationally, Fortuna invested $49.0 million in mineral exploration and project development, with plans to increase this to $51.0 million in 2025. The Séguéla mine, a flagship project, delivered 137,781 ounces of gold at an all-in sustaining cost of $1,153 per ounce in its first full year of production. Looking ahead, the company plans to increase production at Séguéla to 160,000 to 180,000 ounces by 2026.
Looking forward, Fortuna Silver Mines remains focused on optimizing costs and capital across its portfolio while enhancing production capabilities. The company’s management is committed to unlocking significant value through strategic initiatives and continued investment in high-value opportunities, positioning Fortuna for sustained growth in the coming years.