Fortuna Mining (FSM) closed the most recent trading day at $8.85, moving -1.12% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.71%. Meanwhile, the Dow lost 1.9%, and the Nasdaq, a tech-heavy index, lost 3.56%.
Heading into today, shares of the silver and gold miner had gained 6.17% over the past month, outpacing the Basic Materials sector's loss of 0.2% and the S&P 500's gain of 3.5%.
The investment community will be paying close attention to the earnings performance of Fortuna Mining in its upcoming release.
FSM's full-year Zacks Consensus Estimates are calling for earnings of $0.79 per share and revenue of $0 million. These results would represent year-over-year changes of +71.74% 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 14.49% upward. Fortuna Mining is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Fortuna Mining is holding a Forward P/E ratio of 11.33. This signifies a discount in comparison to the average Forward P/E of 20.29 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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