FVI:CC - Fortuna Silver Mines: A Premium Valuation Relative To Tier-2/3 Jurisdiction Peers
2024-05-26 03:18:48 ET
Summary
- Fortuna Silver saw a significant decline in silver production in Q1, but offset it with a 49% increase in gold production with its new Seguela Mine in commercial production.
- This translated to a 28% increase in revenue and improved free cash flow generation, with net debt reduced to ~$80 million.
- In this update we'll dig into the Q1 results, recent developments, and how the stock's valuation stacks up vs. peers:
We're nearing the end of the Q1 Earnings Season for the precious metals sector and one of the first companies to report its results was Fortuna Silver ( FSM ). Overall, the company saw a significant decline in silver production to start the year, with silver production sliding 32% year-over-year. Fortunately, this was offset by a 49% increase in gold production which enjoyed the strongest year-over-year gains, allowing as of Q1 2023, allowing Fortuna to report higher revenue and continued free cash flow generation. In this update we'll dig into the Q1 results, recent developments, and how the stock's valuation stacks up vs. peers: ...
Fortuna Silver Mines: A Premium Valuation Relative To Tier-2/3 Jurisdiction Peers