The miner reported Q1 adjusted earnings of $0.05 per share, topping forecasts, while revenue fell short of expectations.
Fortuna Silver Mines delivered mixed first-quarter results, with adjusted earnings of $0.05 per share exceeding analyst estimates of $0.03. However, revenue of $123.4 million missed the consensus forecast of $130 million, reflecting lower-than-expected production volumes at its key mines.
The company reaffirmed its 2026 production guidance, targeting 250,000 to 270,000 ounces of gold and 7.5 to 8.5 million ounces of silver. In Q1 2023, Fortuna produced 42,356 ounces of gold and 1.2 million ounces of silver, with all-in sustaining costs of $1,450 per gold ounce.
Shares of Fortuna Silver (FSM) traded flat in early premarket activity as investors weighed the earnings beat against the revenue miss.