In the latest close session, Fortuna Mining (FSM) was up +2.31% at $6.63. This move outpaced the S&P 500's daily gain of 0.8%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.97%.
Prior to today's trading, shares of the silver and gold miner had gained 8.54% outpaced the Basic Materials sector's gain of 2.02% and the S&P 500's gain of 5.12%.
The upcoming earnings release of Fortuna Mining will be of great interest to investors.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.7 per share and a revenue of $0 million, representing changes of +52.17% and 0%, respectively, from the prior year.
Investors should also note any recent changes 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Fortuna Mining is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Fortuna Mining is at present trading with a Forward P/E ratio of 9.26. For comparison, its industry has an average Forward P/E of 18.06, which means Fortuna Mining is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 156, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
