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Fortuna Mining (FSM) Ascends But Remains Behind Market: Some Facts to Note September 19, 2024
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Fortuna Mining (FSM - Free Report) closed the most recent trading day at $4.85, moving +1.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%.
Shares of the silver and gold miner have depreciated by 2.64% over the course of the past month, underperforming the Basic Materials sector's gain of 1.1% and the S&P 500's gain of 1.27%.
Market participants will be closely following the financial results of Fortuna Mining in its upcoming release. The company is forecasted to report an EPS of $0.16, showcasing a 60% upward movement from the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Fortuna Mining. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Fortuna Mining is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortuna Mining is holding a Forward P/E ratio of 9.23. This indicates a discount in contrast to its industry's Forward P/E of 14.84.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Fortuna Mining (FSM - Free Report) closed the most recent trading day at $4.85, moving +1.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%.
Shares of the silver and gold miner have depreciated by 2.64% over the course of the past month, underperforming the Basic Materials sector's gain of 1.1% and the S&P 500's gain of 1.27%.
Market participants will be closely following the financial results of Fortuna Mining in its upcoming release. The company is forecasted to report an EPS of $0.16, showcasing a 60% upward movement from the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Fortuna Mining. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Fortuna Mining is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Fortuna Mining is holding a Forward P/E ratio of 9.23. This indicates a discount in contrast to its industry's Forward P/E of 14.84.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.