Why Fortuna Mining Corp. (FSM) Soared On Thursday

We recently published a list of 10 Stocks With Surprising Gains. In this article, we are going to take a look at where Fortuna Mining Corp. (NYSE:FSM) stands against other best-performing stocks on Thursday.

Fortuna Mining rallied for a fifth consecutive day on Thursday, to hit a new all-time high, as the surge in gold and silver prices sparked buying appetite for its stock.

At intra-day trading, Fortuna Mining Corp. (NYSE:FSM) rallied to a new all-time high of $7.55, or 12 percent, before a slight profit-taking pulled the company’s share price lower to end just 9.79 percent at $7.4 apiece

On Thursday, the spot prices of gold grew by 0.20 percent or $6.7 at $3,359.35 per troy ounce, while silver was up by 0.19 percent or 7 cents at $35.72 per ounce. Thursday’s intra-day trading also saw silver hit a new all-time high of $36.27 per troy ounce.

In the first quarter of the year, Fortuna Mining Corp.’s (NYSE:FSM) net income attributable to shareholders expanded by 123 percent to $58.5 million from $26.2 million in the same period last year.

Sales increased by 45 percent to $290 million from $200 million year-on-year.

Overall, FSM ranks 6th on our list of best-performing stocks on Thursday. While we acknowledge the potential of FSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.