Fortuna Mining Corp. FSM

11.69 0.19 1.65% as of 25 Sep
Market cap
$3.4B
P/E
9.5×
Growth Flags show if company had growth for consecutive years

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.62%

Capital & Financial Ratios

Market Cap 3,400.00
Revenue 1,182.49
Net Income 405.88
Free Cash Flow 415.11
Net Debt (423.66)
Current Ratio 3.00
Debt/Equity 0.11
P/E ratio 9.50
P/S ratio 2.98
P/B ratio 1.93
Past 5Y EPS Growth 22.93%
This Y EPS Growth 91.41%
Next Y EPS Growth 26.70%
Next 5Y EPS Growth 40.80%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 128 231 554 627
Receivables 70 100 74 65
Inventory 116 134 123 139
Other 20 20 14 —
333 486 765 835
2023 2024 2025 Q'26
Payables 148 152 153 148
ST’ Debt 44 — — —
Other 5 5 — —
244 256 256 278
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 19.86% 27.69% 11.59%
Cash Flow 23.91% 38.00% 34.00%
Earnings 0.00% 67.89% 0.00%
Book Value 20.71% 19.05% 10.43%

Revenue

Mar Jun Sep Dec Year
’26 342 318 — — —
’25 195 230 251 270 947
’24 201 156 182 138 677
’23 176 158 243 265 842
’22 182 168 167 165 681
’21 118 121 163 199 600
’20 48 44 83 104 279
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 209 138 — — —
’25 126 67 99 174 467
’24 49 20 67 229 366
’23 42 44 106 105 297
’22 33 47 65 50 194
’21 21 30 39 57 147
’20 4 1 32 57 93
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 164 70 — — —
’25 88 20 51 130 289
’24 8 (7) 26 178 205
’23 (20) (23) 69 53 80
’22 (32) (7) 6 (24) (57)
’21 5 7 (12) (5) (5)
’20 (29) (17) 13 34 0
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.35 0.24 — — —
’25 0.19 0.12 0.38 0.21 0.90
’24 0.09 0.13 0.16 0.03 0.41
’23 0.04 0.01 0.09 (0.30) (0.17)
’22 0.09 0.01 (0.01) (0.52) (0.44)
’21 0.14 0.08 0.00 0.05 0.23
’20 (0.03) (0.03) 0.07 0.09 0.12
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
2.00 4.03 3.16 2.39 1.47 2.91 2.05 2.58 2.63 4.13

Analyst estimates 2026–2028

Powerpack
Low Price
9.75 6.92 6.08 4.59 8.39 9.85 4.68 4.20 6.36 10.38
High Price
780 847 1,023 1,232 1,236 2,297 2,420 2,490 2,327 4,294
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
210 268 263 257 279 600 681 842 677 947
Revenue
38.34% 40.86% 36.68% 32.89% 39.51% 34.25% 21.54% 22.56% 34.46% 49.30%
Gross Margin
47 105 67 44 59 107 (125) (11) 142 400
EBT
22.41% 39.14% 25.58% 17.10% 21.13% 17.87% (18.36%) (1.31%) 20.93% 42.25%
EBT Margin
18 66 34 24 22 59 (136) (44) 90 289
Net Income
33 43 45 46 45 122 173 220 176 191
Depreciation
1.54 1.70 1.65 1.61 1.59 2.52 2.34 2.86 2.19 3.09
Revenue/Sh
0.13 0.42 0.21 0.15 0.12 0.24 (0.44) (0.17) 0.42 0.94
Earnings/Sh
0.39 0.44 0.52 0.38 0.53 0.62 0.67 1.01 1.18 1.52
Cash Flow/Sh
(0.29) (0.24) (0.23) (1.34) (0.53) (0.64) (0.86) (0.74) (0.52) (0.58)
Capex/Sh
0.09 0.21 0.29 (0.97) 0.00 (0.02) (0.20) 0.27 0.66 0.94
Free CF/Sh
3.09 3.57 3.77 3.97 4.15 6.01 4.42 4.37 4.75 5.66
Book Value/Sh
137 158 160 160 175 238 291 295 309 307
Shares
43.71 13.00 17.02 26.49 74.91 13.93 0.00 0.00 10.21 10.55
PE Ratio
3.98 3.14 2.21 2.54 5.17 1.55 1.62 1.31 1.96 3.18
PS Ratio
1.98 1.49 0.96 1.03 1.99 0.65 0.85 0.85 0.90 1.73
PB Ratio
3.58 2.50 1.87 2.88 5.33 1.68 1.85 1.45 1.94 2.83
EV/Sales
60.28 20.37 10.56 (4.77) 3,510.06 (196.09) (22.13) 15.35 6.42 9.28
EV/FCF
53 70 83 60 93 147 194 297 366 467
Op' Cash Flow
(40) (37) (37) (215) (93) (152) (251) (217) (161) (178)
Capex
12 33 47 (155) 0 (5) (57) 80 205 289
FCF
109 212 158 63 152 114 118 90 230 508
Working Cap'
43 41 78 170 178 187 241 249 174 190
Total Debt
(83) (173) (85) 87 46 80 160 121 (57) (364)
Net Debt
423 564 603 635 726 1,430 1,289 1,288 1,466 1,735
Sh' Equity
3.79% 10.45% 4.55% 2.76% 2.16% 3.76% (6.57%) (2.64%) 6.31% 12.84%
ROA
8.93% 17.64% 7.43% 2.96% 4.63% 5.67% (4.90%) (0.02%) 6.93% 18.61%
ROIC
5.20% 13.44% 5.83% 3.84% 3.17% 5.37% (9.43%) (3.95%) 9.35% 17.96%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Fortuna Mining Corp. peers in Gold

All 37 Gold stocks →

Fortuna Mining Corp. (FSM) key facts

  • Fortuna Mining Corp. (FSM) is a Gold company in the Basic Materials sector, listed on the New York Stock Exchange.
  • Fortuna Mining Corp.’s revenue for fiscal 2025 (year ended December 2025) was CAD 947.1 million, up 39.8% from fiscal 2024.
  • Net income was CAD 288.8 million, or CAD 0.94 per share (basic), a net margin of 30.4%.
  • As of September 25, 2026, FSM traded at $11.69, a market capitalization of $3.4 billion.
  • At that price the stock trades at 9.5× trailing-twelve-month earnings and 3.0× sales.
  • Return on equity was 18.0% and debt-to-equity 0.11.

Source: company filings (standardised) and stockrow calculations.

Fortuna Mining Corp. (FSM) Latest News

News by impact score

Fine-tune

18 Aug

4

Fortuna Mining Corp. (FSM) is an undervalued miner recommended for purchase after completing a smart acquisition. Smart acquisition represents a major strategic move that could significantly alter Fortuna Mining Corp. trajectory and investor sentiment.

15 Aug

4

Fortuna Mining advances Bambadji asset acquisition and installs new leadership to strengthen operations and strategic direction. Bambadji deal adds significant assets while leadership reset positions company for improved execution and growth.

14 Aug

3

XAU Resources updated on Quartzstone transaction progress, Fortuna exploration program results and Noseno project status. Project and transaction updates can moderately shift Fortuna Mining operational plans and near-term sentiment.

10 Aug

4

Fortuna Mining Corp. acquires the Bambadji Project in Senegal from Barrick and IAMGOLD. Acquisition expands Fortuna's Senegal footprint and adds prospective gold assets likely to lift reserves and production outlook.

8 Aug

3 transcript

Fortuna Mining Corp. released Q2 earnings call highlights covering financial results, production updates and operational outlook for its mining operations. Q2 earnings and operational metrics can moderately shift near-term investor views on financial trajectory.

6 Aug

4 transcript

Fortuna Mining Corp generated strong cash flow in Q2 2026 with strategic progress noted during its earnings call. Strong cash flow and strategic updates from Q2 2026 earnings improve Fortuna Mining's financial outlook and investor sentiment.

5 Aug

4

Fortuna Mining Corp. released its financial and operational results for the second quarter of 2026. Quarterly results releases typically drive notable shifts in stock valuation and investor outlook.

29 Jul

4

Fortuna Mining Corp. approved 30% capacity expansion of the Séguéla Gold Mine in Côte d’Ivoire. 30% capacity expansion at key gold mine will substantially increase Fortuna's future output and revenues.

28 Jul

3

Awalé closes $19 million strategic investment by Predictive Discovery and Fortuna Mining. Fortuna Mining's stake in the $19 million Awalé deal marks a strategic capital deployment with moderate effect on its asset positioning.

23 Jul

3

CDE stock is assessed as mostly a bargain rather than a trap, pointing to favorable valuation for potential investors. Stock valuation analysis may moderately shift investor sentiment and near-term trading in the shares.

13 Jul

4

Fortuna Mining Corp. filed a feasibility study technical report for the Diamba Sud Gold Project in Senegal. Feasibility study filing marks key milestone advancing Diamba Sud project toward potential development and future production.

9 Jul

3

Fortuna Mining produced 72,217 gold equivalent ounces in Q2 2026 and advanced key growth initiatives. Quarterly production results plus growth updates typically create moderate but not transformative effects on operations and sentiment.

29 Jun

4

Fortuna Mining Corp. released a feasibility study for the Diamba Sud Gold Project in Senegal projecting an after-tax IRR of 60% and NPV5% of US$1 billion at a US$3,500/oz gold price. High-IRR feasibility study for a new Senegal gold project signals major production growth and valuation upside for Fortuna.

19 Jun

4

Fortuna Mining Corp. obtained environmental approval for the Diamba Sud Gold Project in Senegal. Approval advances Diamba Sud project toward development and future output growth.

17 Jun

4

Fortuna Mining Corp. secures environmental approval advancing the Diamba Sud Project. Environmental approval directly enables development of a core mining project likely to increase future output and revenues.

16 Jun

4

Fortuna Mining Corp. secures environmental approval for Diamba Sud mine. Environmental approval clears key hurdle for Diamba Sud mine development and future output growth.

15 Jun

4

Fortuna Mining obtains key environmental approval for Diamba Sud Gold Project in Senegal. Key approval advances Diamba Sud gold project permitting and future production potential.

16 May

4

Fortuna Mining posts record quarterly results driven by strong Séguéla mine output while evaluating multiple growth options. Record Séguéla performance and explicit growth choices signal major operational momentum and expansion potential.

14 May

4

Fortuna Mining Corp. (FSM) beat Q1 earnings expectations with record revenues driven by strong silver prices. Q1 earnings beat on record revenues and strong silver prices significantly enhances FSM's financial performance and investor sentiment.

13 May

4

Fortuna Mining Corp. (FSM) posted record Q1 2026 results fueled by high gold prices. Record Q1 2026 results from high gold prices signal major boost to financial performance and investor sentiment.

11 May

4

Fortuna Mining Corp. (FSM) prepares to report Q1 earnings, with detailed expectations for stock performance following the release. Upcoming Q1 earnings disclosure represents a major financial event likely to significantly sway FSM's market performance and investor perceptions.

10 May

4

Fortuna Mining Corp. (FSM) released highlights from its Q1 earnings call, covering financial results, operational updates, and forward guidance. Q1 earnings call highlights detail financial performance and guidance, likely driving significant shifts in investor sentiment and stock trajectory.

7 May

4

Fortuna Mining Corp. released Q1 2026 earnings call summary detailing quarterly financial results, operational performance, production updates, and future outlook for its mining operations. Quarterly earnings summaries provide critical financial metrics and guidance that significantly influence stock price and investor expectations.

3

Fortuna Mining Corp. reports reserve growth, raising questions about its valuation and future output potential. Reserve growth supports long-term production but prompts valuation scrutiny amid uncertain output increases.

6 May

4

Fortuna Mining Corp. (FSM) reported results for the first quarter 2026. Quarterly financial results significantly influence investor sentiment, stock performance, and future projections for mining operations.

5 May

4

Fortuna Mining Corp (FSM) announces plans for more cash returns to shareholders amid strong financial position. Increased cash returns signal strong cash flow and boost investor sentiment significantly.

29 Apr

4

Fortuna Mining Corp. (FSM) reports a 15% increase in mineral reserves. 15% increase in mineral reserves extends mine life, boosts production potential, and enhances long-term valuation.

28 Apr

3

Fortuna Mining Corp. (FSM) just made a move that investors often watch closely. FSM's closely watched move may moderately influence investor sentiment and short-term market performance.

24 Apr

4

Fortuna Mining Corp. (FSM) signed an earn-in agreement with Arafura Resources for the Quartzstone gold project in Guyana, allowing FSM to earn up to 70% interest by funding exploration and development expenditures over eight years. Earn-in deal expands Fortuna Mining's gold asset pipeline in a new jurisdiction, enhancing long-term production potential and strategic growth.

23 Apr

4

Fortuna Mining Corp. (TSX:FVI) undergoes valuation review after reporting mineral reserve growth and securing Quartzstone earn-in agreement, highlighting improved asset base and expansion potential. Reserve growth bolsters resource inventory and Quartzstone earn-in enables strategic low-risk project access, driving major positive shifts in valuation and market outlook.

stockrow.com/FSM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com