Fortuna Mining (FSM – Free Report) closed the latest trading day at $4.51, indicating a +0.67% change from the previous session’s end. The stock’s performance was ahead of the S&P 500’s daily gain of 0.16%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq decreased by 0.06%.
The silver and gold miner’s stock has dropped by 11.74% in the past month, falling short of the Basic Materials sector’s loss of 9.84% and the S&P 500’s loss of 2.7%.
The upcoming earnings release of Fortuna Mining will be of great interest to investors. On that day, Fortuna Mining is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 128.57%.
Investors should also note any recent changes to analyst estimates for Fortuna Mining. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Fortuna Mining currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Fortuna Mining has a Forward P/E ratio of 8.05 right now. This indicates a discount in contrast to its industry’s Forward P/E of 12.35.
The Mining – Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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