company background image
FVI

Fortuna Silver Mines TSX:FVI Stock Report

Last Price

CA$3.84

Market Cap

CA$1.1b

7D

-4.7%

1Y

-44.4%

Updated

29 Jun, 2022

Data

Company Financials +
FVI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance3/6
Financial Health4/6
Dividends0/6

FVI Stock Overview

Fortuna Silver Mines Inc. engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire.

Fortuna Silver Mines Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Fortuna Silver Mines
Historical stock prices
Current Share PriceCA$3.84
52 Week HighCA$7.06
52 Week LowCA$3.48
Beta1.25
1 Month Change-13.12%
3 Month Change-19.16%
1 Year Change-44.43%
3 Year Change1.59%
5 Year Change-36.74%
Change since IPO-18.12%

Recent News & Updates

Jun 13
A Look At The Fair Value Of Fortuna Silver Mines Inc. (TSE:FVI)

A Look At The Fair Value Of Fortuna Silver Mines Inc. (TSE:FVI)

In this article we are going to estimate the intrinsic value of Fortuna Silver Mines Inc. ( TSE:FVI ) by projecting its...

Shareholder Returns

FVICA Metals and MiningCA Market
7D-4.7%-4.6%0.3%
1Y-44.4%-14.8%-3.7%

Return vs Industry: FVI underperformed the Canadian Metals and Mining industry which returned -12.1% over the past year.

Return vs Market: FVI underperformed the Canadian Market which returned -2.9% over the past year.

Price Volatility

Is FVI's price volatile compared to industry and market?
FVI volatility
FVI Average Weekly Movement9.7%
Metals and Mining Industry Average Movement11.0%
Market Average Movement10.0%
10% most volatile stocks in CA Market17.2%
10% least volatile stocks in CA Market4.4%

Stable Share Price: FVI is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: FVI's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1990n/aJorge A. Ganoza Duranthttps://www.fortunasilver.com

Fortuna Silver Mines Inc. engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d’Ivoire. The company was formerly known as Fortuna Ventures Inc. and changed its name to Fortuna Silver Mines Inc. in June 2005.

Fortuna Silver Mines Fundamentals Summary

How do Fortuna Silver Mines's earnings and revenue compare to its market cap?
FVI fundamental statistics
Market CapUS$870.15m
Earnings (TTM)US$57.54m
Revenue (TTM)US$664.36m

15.1x

P/E Ratio

1.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FVI income statement (TTM)
RevenueUS$664.36m
Cost of RevenueUS$446.69m
Gross ProfitUS$217.67m
Other ExpensesUS$160.13m
EarningsUS$57.54m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.20
Gross Margin32.76%
Net Profit Margin8.66%
Debt/Equity Ratio13.6%

How did FVI perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FVI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FVI?

Other financial metrics that can be useful for relative valuation.

FVI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.6x
Enterprise Value/EBITDA3.6x
PEG Ratio-1.3x

Price to Earnings Ratio vs Peers

How does FVI's PE Ratio compare to its peers?

FVI PE Ratio vs Peers
The above table shows the PE ratio for FVI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average1021.5x
EDR Endeavour Silver
44.5x65.3%CA$767.6m
FR First Majestic Silver
3926.3xn/aCA$2.6b
MAG MAG Silver
99.8xn/aCA$1.6b
SVM Silvercorp Metals
15.2xn/aCA$599.1m
FVI Fortuna Silver Mines
15.1x-11.9%CA$1.1b

Price-To-Earnings vs Peers: FVI is good value based on its Price-To-Earnings Ratio (15.1x) compared to the peer average (1021.5x).


Price to Earnings Ratio vs Industry

How does FVI's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

Price-To-Earnings vs Industry: FVI is expensive based on its Price-To-Earnings Ratio (15.1x) compared to the Canadian Metals and Mining industry average (10.9x)


Price to Earnings Ratio vs Fair Ratio

What is FVI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FVI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.1x
Fair PE Ratio7.2x

Price-To-Earnings vs Fair Ratio: FVI is expensive based on its Price-To-Earnings Ratio (15.1x) compared to the estimated Fair Price-To-Earnings Ratio (7.2x).


Share Price vs Fair Value

What is the Fair Price of FVI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FVI (CA$3.84) is trading below our estimate of fair value (CA$7.86)

Significantly Below Fair Value: FVI is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: FVI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Discover undervalued companies

Future Growth

How is Fortuna Silver Mines forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-11.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FVI's earnings are forecast to decline over the next 3 years (-11.9% per year).

Earnings vs Market: FVI's earnings are forecast to decline over the next 3 years (-11.9% per year).

High Growth Earnings: FVI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FVI's revenue is expected to decline over the next 3 years (-1.1% per year).

High Growth Revenue: FVI's revenue is forecast to decline over the next 3 years (-1.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FVI's Return on Equity is forecast to be low in 3 years time (3.5%).


Discover growth companies

Past Performance

How has Fortuna Silver Mines performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FVI has a large one-off loss of $25.4M impacting its March 31 2022 financial results.

Growing Profit Margin: FVI's current net profit margins (8.7%) are lower than last year (15%).


Past Earnings Growth Analysis

Earnings Trend: FVI's earnings have grown by 1.1% per year over the past 5 years.

Accelerating Growth: FVI's earnings growth over the past year (9.7%) exceeds its 5-year average (1.1% per year).

Earnings vs Industry: FVI earnings growth over the past year (9.7%) exceeded the Metals and Mining industry -5.8%.


Return on Equity

High ROE: FVI's Return on Equity (4.1%) is considered low.


Discover strong past performing companies

Financial Health

How is Fortuna Silver Mines's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: FVI's short term assets ($301.5M) exceed its short term liabilities ($145.6M).

Long Term Liabilities: FVI's short term assets ($301.5M) do not cover its long term liabilities ($458.7M).


Debt to Equity History and Analysis

Debt Level: FVI's net debt to equity ratio (6%) is considered satisfactory.

Reducing Debt: FVI's debt to equity ratio has increased from 7.8% to 13.6% over the past 5 years.

Debt Coverage: FVI's debt is well covered by operating cash flow (80.4%).

Interest Coverage: FVI's interest payments on its debt are well covered by EBIT (17.2x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Fortuna Silver Mines's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FVI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FVI's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FVI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FVI's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as FVI has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Jorge A. Ganoza Durant (51 yo)

16.42yrs

Tenure

US$5,280,312

Compensation

Mr. Jorge A. Ganoza Durant, B.Sc. Eng, co-founded Fortuna Silver Mines Inc. (formerly Fortuna Ventures Inc.) in 2004. Mr. Durant has been the Chief Executive Officer and President of Fortuna Silver Mines I...


CEO Compensation Analysis

Compensation vs Market: Jorge A.'s total compensation ($USD5.28M) is above average for companies of similar size in the Canadian market ($USD1.58M).

Compensation vs Earnings: Jorge A.'s compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FVI's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: FVI's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FVI insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 57.7%.


Top Shareholders

Company Information

Fortuna Silver Mines Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Fortuna Silver Mines Inc.
  • Ticker: FVI
  • Exchange: TSX
  • Founded: 1990
  • Industry: Silver
  • Sector: Materials
  • Implied Market Cap: CA$1.122b
  • Shares outstanding: 292.18m
  • Website: https://www.fortunasilver.com

Number of Employees


Location

  • Fortuna Silver Mines Inc.
  • 200 Burrard Street
  • Suite 650
  • Vancouver
  • British Columbia
  • V6C 3L6
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.