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Fortuna Mining (FSM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Fortuna Mining (FSM - Free Report) closed at $8.70, marking a -8.52% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 0.52%.
Shares of the silver and gold miner have appreciated by 19.77% over the course of the past month, outperforming the Basic Materials sector's gain of 1.73%, and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of Fortuna Mining in its upcoming earnings disclosure.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.79 per share and revenue of $0 million, which would represent changes of +71.74% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Fortuna Mining. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 7.48% rise in the Zacks Consensus EPS estimate. Currently, Fortuna Mining is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Fortuna Mining currently has a Forward P/E ratio of 12.04. For comparison, its industry has an average Forward P/E of 22.31, 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 47, finds itself in the top 20% 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.
To follow FSM in the coming trading sessions, be sure to utilize Zacks.com.
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Fortuna Mining (FSM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Fortuna Mining (FSM - Free Report) closed at $8.70, marking a -8.52% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 0.52%.
Shares of the silver and gold miner have appreciated by 19.77% over the course of the past month, outperforming the Basic Materials sector's gain of 1.73%, and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of Fortuna Mining in its upcoming earnings disclosure.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.79 per share and revenue of $0 million, which would represent changes of +71.74% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Fortuna Mining. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 7.48% rise in the Zacks Consensus EPS estimate. Currently, Fortuna Mining is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, Fortuna Mining currently has a Forward P/E ratio of 12.04. For comparison, its industry has an average Forward P/E of 22.31, 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 47, finds itself in the top 20% 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.
To follow FSM in the coming trading sessions, be sure to utilize Zacks.com.