Benzinga - by Zacks, Benzinga Contributor.
Fortuna Silver Mines (NYSE: FSM) ended the recent trading session at $4.68, demonstrating a -0.21% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.91%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 1.51%.
Shares of the silver and gold miner witnessed a gain of 2.63% over the previous month, beating the performance of the Basic Materials sector with its loss of 2.19% and the S&P 500's loss of 4.2%.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Silver Mines in its upcoming earnings disclosure. The company's earnings report is set to go public on May 7, 2024. The company is forecasted to report an EPS of $0.03, showcasing a 40% downward movement from the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Fortuna Silver Mines. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 166.67% upward. At present, Fortuna Silver Mines boasts a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Fortuna Silver Mines is at present trading with a Forward P/E ratio of 58.63. This valuation marks a premium compared to its industry's average Forward P/E of 43.7.
The Mining - Silver industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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