Fortuna Mining (FSM) ended the recent trading session at $6.58, demonstrating a -4.78% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.14%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.27%.
Heading into today, shares of the silver and gold miner had gained 0.44% over the past month, lagging the Basic Materials sector's gain of 2.46% and the S&P 500's gain of 3.97%.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Mining in its upcoming earnings disclosure.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.7 per share and revenue of $0 million. These totals would mark changes of +52.17% and 0%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Fortuna Mining. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Fortuna Mining presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Fortuna Mining is at present trading with a Forward P/E ratio of 9.87. This valuation marks a discount compared to its industry average Forward P/E of 19.5.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 140, finds itself in the bottom 44% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Fortuna Mining Corp. (FSM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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