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Fortuna Mining (FSM) Gains But Lags Market: What You Should Know
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Fortuna Mining (FSM - Free Report) closed the most recent trading day at $4.66, moving +0.43% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the silver and gold miner had lost 4.92% over the past month, lagging the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 1.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Mining in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. It is anticipated that the company will report an EPS of $0.16, marking a 1500% rise compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Fortuna Mining should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 45.95% higher. As of now, Fortuna Mining holds a Zacks Rank of #2 (Buy).
Looking at valuation, Fortuna Mining is presently trading at a Forward P/E ratio of 8.59. This valuation marks a discount compared to its industry's average Forward P/E of 14.17.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 26% 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.
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) Gains But Lags Market: What You Should Know
Fortuna Mining (FSM - Free Report) closed the most recent trading day at $4.66, moving +0.43% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the silver and gold miner had lost 4.92% over the past month, lagging the Basic Materials sector's loss of 2.29% and the S&P 500's loss of 1.16% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Mining in its upcoming earnings disclosure. The company's earnings report is set to go public on August 7, 2024. It is anticipated that the company will report an EPS of $0.16, marking a 1500% rise compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Fortuna Mining should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 45.95% higher. As of now, Fortuna Mining holds a Zacks Rank of #2 (Buy).
Looking at valuation, Fortuna Mining is presently trading at a Forward P/E ratio of 8.59. This valuation marks a discount compared to its industry's average Forward P/E of 14.17.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 26% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.