Fortuna Silver Mines Inc. (FSM) saw its stock soar 8.86% in the pre-market trading session on Friday, buoyed by the company's impressive fourth-quarter 2024 financial results and optimistic forward guidance.
The mining company reported record free cash flow from operations of $19.6 million in Q4 2024, marking a staggering 69% increase compared to the previous quarter. Net cash from operations stood at $142 million or $0.46 per share, surpassing analysts' consensus estimates of $0.40 per share.
Fortuna Silver Mines also achieved a significant milestone by surpassing $1 billion in sales for the first time in 2024, driven by a 10% quarter-over-quarter increase in revenue to $302 million in Q4. The company's strong financial performance enabled it to reduce its debt by $118 million since mid-2023, transitioning to a positive net cash position of $59 million by year-end.
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