We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fortuna Mining's Q3 Gold-Equivalent Production Dips Sequentially
Read MoreHide Full Article
Key Takeaways
Fortuna Mining produced 69,665 GEO in Q3'26, down 3.9% sequentially and y/y.
Segulea output fell 19% sequentially, but output is expected to recover in Q4 as mining volumes normalize.
FSM approved a $109M Sgula expansion to boost capacity and support above 200,000 ounces of output from H2'28.
Fortuna Mining Corp. (FSM - Free Report) produced 69,665 gold-equivalent ounces (GEO) from ongoing operations in the third quarter of 2026, bringing the total first-nine-month production to 214,754 GEOs. The company remains on track to achieve its 2026 production target of 281,000-305,000 GEOs.
However, the third-quarter figure marked a 3.9% decrease from the year-ago quarter. The reported figure also fell 3.9% from the second quarter of 2026.
FSM’s Q1 Mine Performances
Fortuna Mining currently has three operating mines in its portfolio.
The Séguéla mine, located in Côte d´Ivoire, contributed 33,744 ounces of gold in the third quarter of 2026, down 19% from the prior quarter. The downside was due to lower tons milled, head grade and recovery. The company expects the mine’s production to be 160,000-170,000 ounces of gold for 2026. It expects production to recover to the first-half 2026 level in the fourth quarter.
During the third quarter, the company received a $109-million budget approval from its board for a 30% expansion of the Séguéla processing plant. The expansion is expected to increase processing capacity to 2.3 million tons per annum and support annual gold production of more than 200,000 ounces from the second half of 2028.
At the Lindero mine in Argentina, third-quarter gold production was 26,024 ounces, up 24.9% sequentially. The annual guidance for the mine is 92,000-102,000 ounces of gold for 2026.
The Caylloma mine in Peru produced 247,367 ounces of silver in the third quarter, higher than the second quarter’s 231,294 ounces. GEO output was 9,897 ounces in the third quarter, higher than 9,705 ounces in the second quarter of 2026.
The mine’s zinc production was 11.37 million pounds and lead production was 8.35 million pounds. From the previous quarter, zinc and lead production improved. The company expects the mine to produce GEO of 29,000-33,000 for 2026.
Q3 Preliminary Results of Other Mining Stocks
Endeavour Silver Corp. (EXK - Free Report) produced 2.1 million ounces of silver in the third quarter of 2026. This reflected a 19% increase from the year-ago quarter, driven by the addition of the Kolpa operation in May 2025. Endeavour Silver’s total gold production in the quarter grew 39% year over year to 10,126 ounces. The company’s silver-equivalent ounces production was 3.6 million in the quarter.
First Majestic Silver Corp. (AG - Free Report) announced that its silver production reached 3.4 million ounces in the third quarter of 2026, marking a year-over-year decrease of 11%. The downside was caused by a labor dispute at San Dimas during the quarter. The company’s gold production also fell 17% to 29,552 ounces. First Majestic produced 13.23 million pounds of zinc, 7.84 million pounds of lead and 221,111 pounds of copper.
Fortuna Mining Stock’s Price Performance
FSM shares have gained 20.2% in the past year compared with the industry’s 19.5% growth.
Image Source: Zacks Investment Research
FSM’s Zacks Rank & Stock to Consider
Fortuna Mining currently carries a Zacks Rank #4 (Sell).
The Zacks Consensus Estimate for Carpenter Technology’s fiscal 2027 earnings is pegged at $13.28 per share, indicating a year-over-year increase of 23.4%. CRS shares have jumped 59.4% in a year. It delivered an average trailing four-quarter earnings surprise of 8.4%.
View the Zacks #1 Rank List
Image: Shutterstock
Fortuna Mining's Q3 Gold-Equivalent Production Dips Sequentially
Key Takeaways
Fortuna Mining Corp. (FSM - Free Report) produced 69,665 gold-equivalent ounces (GEO) from ongoing operations in the third quarter of 2026, bringing the total first-nine-month production to 214,754 GEOs. The company remains on track to achieve its 2026 production target of 281,000-305,000 GEOs.
However, the third-quarter figure marked a 3.9% decrease from the year-ago quarter. The reported figure also fell 3.9% from the second quarter of 2026.
FSM’s Q1 Mine Performances
Fortuna Mining currently has three operating mines in its portfolio.
The Séguéla mine, located in Côte d´Ivoire, contributed 33,744 ounces of gold in the third quarter of 2026, down 19% from the prior quarter. The downside was due to lower tons milled, head grade and recovery. The company expects the mine’s production to be 160,000-170,000 ounces of gold for 2026. It expects production to recover to the first-half 2026 level in the fourth quarter.
During the third quarter, the company received a $109-million budget approval from its board for a 30% expansion of the Séguéla processing plant. The expansion is expected to increase processing capacity to 2.3 million tons per annum and support annual gold production of more than 200,000 ounces from the second half of 2028.
At the Lindero mine in Argentina, third-quarter gold production was 26,024 ounces, up 24.9% sequentially. The annual guidance for the mine is 92,000-102,000 ounces of gold for 2026.
The Caylloma mine in Peru produced 247,367 ounces of silver in the third quarter, higher than the second quarter’s 231,294 ounces. GEO output was 9,897 ounces in the third quarter, higher than 9,705 ounces in the second quarter of 2026.
The mine’s zinc production was 11.37 million pounds and lead production was 8.35 million pounds. From the previous quarter, zinc and lead production improved. The company expects the mine to produce GEO of 29,000-33,000 for 2026.
Q3 Preliminary Results of Other Mining Stocks
Endeavour Silver Corp. (EXK - Free Report) produced 2.1 million ounces of silver in the third quarter of 2026. This reflected a 19% increase from the year-ago quarter, driven by the addition of the Kolpa operation in May 2025. Endeavour Silver’s total gold production in the quarter grew 39% year over year to 10,126 ounces. The company’s silver-equivalent ounces production was 3.6 million in the quarter.
First Majestic Silver Corp. (AG - Free Report) announced that its silver production reached 3.4 million ounces in the third quarter of 2026, marking a year-over-year decrease of 11%. The downside was caused by a labor dispute at San Dimas during the quarter. The company’s gold production also fell 17% to 29,552 ounces. First Majestic produced 13.23 million pounds of zinc, 7.84 million pounds of lead and 221,111 pounds of copper.
Fortuna Mining Stock’s Price Performance
FSM shares have gained 20.2% in the past year compared with the industry’s 19.5% growth.
FSM’s Zacks Rank & Stock to Consider
Fortuna Mining currently carries a Zacks Rank #4 (Sell).
A better-ranked stock from the basic materials space is Carpenter Technology Corporation (CRS - Free Report) . CRS has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s fiscal 2027 earnings is pegged at $13.28 per share, indicating a year-over-year increase of 23.4%. CRS shares have jumped 59.4% in a year. It delivered an average trailing four-quarter earnings surprise of 8.4%.