Shares of Fortuna Silver Mines Inc (NYSE:FSM) jumped 7.75% to reach at $9.45 during the course of session. The company has experienced volume of 4.55M shares while on average the company has a capacity of trading 1.35M shares.
Fortuna Silver Mines Inc (NYSE:FSM) on August 8, 2016 reported cashflow from operations of $12.7 million, revenue of $44.5 million, and a net loss of $1.4 million in the second quarter of 2016.
Second quarter consolidated financial highlights:
- Sales of $44.5 million, compared to $38.9 million in Q2 2015
- Net loss of $1.4 million, compared to net income of $0.2 million in Q2 2015
- Cash flow from operations before changes in non-cash working capital of $12.7 million and Adjusted EBITDA of $18.6 million, compared to $6.8 million and $12.4 million, respectively, in Q2 2015
- Cash position, including short term investments, and working capital as at June 30, 2016 were $90.8 million and $90.2 million, respectively
- Silver and gold production of 1,553,217 and 9,365 ounces, respectively
- Cash cost per ounce of payable silver, net of by-product credits was $1.44
- AISCC per ounce of payable silver was $9.85*All-in sustaining cash cost is net of by-product credits for gold, lead and zinc
Mine operating earnings increased 53% to $15.9 million (Q2 2015: $10.4 million), while the gross margin (mine operating earnings over sales) was 36% (Q2 2015: 27%). At the San Jose Mine, operating earnings increased 32% to $11.6 million as a result of 20% higher sales and an increase in gross margin of three percentage points to 40%. Gross margins improved as realized metal prices increased. At the Caylloma Mine, operating earnings increased 169% to $4.3 million mostly as a result of lower depletion and 20% lower unit costs.
Adjusted EBITDA in Q2 2016 increased 50% over Q2 2015 to $18.6 million, driven by increases at Caylloma and San Jose of 87% to $5.6 million and 37% to $15.6 million, respectively.
Cash flow from operations, before changes in working capital (refer to non-GAAP financial measures) increased 88% to $12.7 million compared to the same period in the prior year (Q2 2015: $6.8 million). This is the result of stronger operating results and lower taxes paid. In Q2 2016 income taxes paid amounted to $2.7 million (Q2 2015: $4.7 million) which is all current.
Fortuna Silver Mines Inc (NYSE:FSM) holds the market capitalization of $1.15B along with 130.58M outstanding shares. The stock traded in the price range of $9.16 – $9.48 for the last trading session. For the stock, price target value has been calculated at $6.76 based on calls of 3 experts. Stock’s minimum price target estimates has been figured out at $3.83 while the maximum price target forecast is established at $9.00.
As of current trade, Fortuna Silver Mines Inc (NYSE:FSM) has shown weekly upbeat performance of 2.94%. Its six months performance indicated a bullish movement while its yearly performance reflected a positive trend of 251.30%. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 320.00%. Shares of Fortuna Silver Mines Inc (NYSE:FSM) currently have an ABR of 2.00, derived from a total of 6 opinions. The company’s price sits 28.75% above from its 50-day moving average of $7.97 and 109.69% above from the stock’s 200-day moving average of $5.49. The company has Relative Strength Index (RSI 14) of 66.44 along with Average True Range (ATR 14) of 0.47. Its weekly and monthly volatility is 4.13%, 4.81% respectively.
Fortuna Silver Mines Inc (NYSE:FSM)’s price to book ratio for most recent quarter is 4.58.