Fortuna Mining (FSM) closed the most recent trading day at $11.48, moving -1.46% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.5%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.43%.
Prior to today's trading, shares of the silver and gold miner had gained 12.67% outpaced the Basic Materials sector's gain of 10.45% and the S&P 500's gain of 0.18%.
The investment community will be paying close attention to the earnings performance of Fortuna Mining in its upcoming release.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.74 per share and revenue of $0 million. These totals would mark changes of +60.87% and 0%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fortuna Mining. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Fortuna Mining is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Fortuna Mining has a Forward P/E ratio of 10.59 right now. This represents a discount compared to its industry average Forward P/E of 22.58.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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