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Fortuna Mining (FSM) closed at $5.07 in the latest trading session, marking a +0.4% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 0.28%.
Shares of the silver and gold miner have appreciated by 10.26% over the course of the past month, outperforming the Basic Materials sector's gain of 4.34% and the S&P 500's gain of 2.87%.
Analysts and investors alike will be keeping a close eye on the performance of Fortuna Mining in its upcoming earnings disclosure. 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%.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.5% higher. Fortuna Mining is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Fortuna Mining has a Forward P/E ratio of 8.02 right now. This expresses a discount compared to the average Forward P/E of 11.26 of its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 140, this industry ranks in the bottom 45% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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