In the latest close session, Fortuna Mining (FSM) was down 1.29% at $8.42. The stock's performance was behind the S&P 500's daily loss of 0.29%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.34%.
The stock of silver and gold miner has risen by 13.13% in the past month, leading the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 3.08%.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Mining in its upcoming earnings disclosure.
FSM's full-year Zacks Consensus Estimates are calling for earnings of $0.74 per share and revenue of $0 million. These results would represent year-over-year changes of +60.87% and 0%, respectively.
Investors should also note any recent changes to analyst estimates for Fortuna Mining. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.52% higher. At present, Fortuna Mining boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Fortuna Mining is at present trading with a Forward P/E ratio of 11.6. Its industry sports an average Forward P/E of 17.94, so one might conclude that Fortuna Mining is trading at a discount comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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