Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI) saw its stock soar 5.17% on Thursday, March 6, 2025 after reporting record free cash flow of $95.6 million in Q4 2024, up 69% quarter-over-quarter. The company also achieved record gold equivalent production of 455,958 ounces in 2024, meeting the low end of its annual guidance.
Key highlights from Fortuna's Q4 and FY2024 results:
- Q4 2024 net income of $11.3 million or $0.04 per share
- Q4 2024 adjusted EBITDA of $137.9 million
- FY2024 net income of $128.7 million or $0.42 per share
- FY2024 adjusted EBITDA of $476.9 million, up 42% year-over-year
- FY2024 free cash flow from operations of $202.9 million, up 32% year-over-year
- Returned $30.6 million to shareholders through share buybacks in Q4 2024
The strong financial performance was driven by higher gold prices, increased gold sales volume from the ramp-up of the Séguéla mine, and effective cost optimization initiatives across the company's portfolio. Fortuna is also planning to expand annual gold production at Séguéla to 160,000 - 180,000 ounces by 2026 at industry-leading costs.