In This Article:
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Free Cash Flow from Operations (Q4 2024): $19.6 million, a 69% increase from Q3 2024.
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Net Cash from Operations (Q4 2024): $142 million or $0.46 per share, exceeding analysts' consensus of $0.40.
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Revenue (Q4 2024): $302 million, a 10% increase quarter over quarter.
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Gold Price (Q4 2024): $2,660 per ounce, a 7% increase quarter over quarter.
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Operating Cash Flow Margin: Expanded from 33% to 50%.
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Net Cash Position (Year-End 2024): $59 million, improved from a net debt position of $198 million mid-2023.
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Cash (Year-End 2024): $231 million, a $50 million increase quarter over quarter.
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Liquidity (Year-End 2024): Over $381 million.
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Debt Reduction (Since Mid-2023): Reduced by $118 million.
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Share Buybacks (Q4 2024): $30.5 million, with additional $1.8 million in January 2025.
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Investment in Exploration and Development (2024): $49 million, with a 2025 budget of $51 million.
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Gold Production (Seguela, Q4 2024): 35,244 ounces, a 1% increase from the previous quarter.
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Gold Production (Yaramoko, Q4 2024): 29,576 ounces, a 6% increase from the previous quarter.
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Cash Cost (Seguela, Q4 2024): $653 per ounce.
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AISC (Seguela, Q4 2024): $1,376 per ounce.
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Cash Cost (Yaramoko, Q4 2024): $812 per ounce.
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AISC (Yaramoko, Q4 2024): $1,302 per ounce.
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Gold Production (Lindero, Q4 2024): 26,806 ounces, a 10% increase from the previous quarter.
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Cash Cost (Lindero, Q4 2024): $1,063 per ounce.
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AISC (Lindero, Q4 2024): $1,873 per ounce.
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Silver Production (Caylloma, Q4 2024): 249,238 ounces.
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Cash Cost per Silver Equivalent Ounce (Caylloma, Q4 2024): $16.53.
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AISC per Silver Equivalent Ounce (Caylloma, Q4 2024): $28.10.
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Attributable Net Income (Q4 2024): $11.3 million or $0.04 per share.
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Adjusted Net Income (Q4 2024): $37 million or $0.12 per share.
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Adjusted Earnings Per Share (Q4 2024): Increased 50% year over year.
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Cash Cost of Sales per Gold Equivalent Ounce (Q4 2024): $1,015.
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Free Cash Flow (Q4 2024): $95.6 million.
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Total Liquidity (Year-End 2024): $381 million.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Fortuna Mining Corp (NYSE:FSM) achieved record free cash flow from operations of $19.6 million in Q4 2024, a 69% increase from Q3 2024.
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The company surpassed $1 billion in sales for the first time in 2024, with a 10% increase in revenue to $302 million in Q4.
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FSM reduced its debt by $118 million since mid-2023, moving to a positive net cash position of $59 million by year-end.
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The Seguela Mine's strong performance resulted in a cash cost of $653 per ounce in Q4, outperforming guidance.
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The Caylloma Mine in Peru surpassed its full-year production guidance for all metals, with zinc and lead production exceeding expectations by 33% and 16%, respectively.