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Fortitude Gold Corp. (FTCO)
OTHER OTC:FTCO
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Fortitude Gold Corp.
(OTC:FTCO)
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Rating:49Neutral
Price Target:―
Fortitude Gold Corp. faces significant financial and market challenges, leading to a low overall stock score. The company's financial performance is hampered by declining revenues and cash flow issues, despite a strong balance sheet. Technical indicators highlight a bearish trend, and the high dividend yield is overshadowed by valuation concerns due to negative earnings. The absence of earnings call and corporate events data means these factors do not influence the current score.
Positive Factors
Balance Sheet Strength
A zero-debt position enhances financial stability, providing the company with greater flexibility to navigate economic challenges and invest in growth opportunities without the burden of interest payments.
Operational Efficiency
High EBIT and EBITDA margins indicate strong operational efficiency, allowing the company to maintain profitability in core operations despite revenue challenges, which is crucial for long-term sustainability.
Liquidity Position
Strong liquidity ensures that the company can meet its short-term obligations and invest in strategic opportunities, providing a buffer against market volatility and operational disruptions.
Negative Factors
Revenue Decline
A significant revenue decline indicates potential challenges in market demand or operational execution, which can impact the company's ability to generate cash and sustain growth over the long term.
Cash Flow Issues
Negative cash flows highlight difficulties in generating sufficient cash from operations, which can strain financial resources and limit the company's ability to fund new projects or return value to shareholders.
Net Loss Impact
A negative return on equity reflects the impact of net losses on shareholder value, indicating inefficiencies in capital utilization and potential challenges in achieving profitability in the near term.
Fortitude Gold Corp. (FTCO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.50M
Dividend Yield6.64%
Average Volume (3M)44.28K
Price to Earnings (P/E)―
Beta (1Y)0.69
Revenue Growth-34.78%
EPS Growth-124.46%
CountryUS
Employees60
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.01
Shares Outstanding24,375,210
10 Day Avg. Volume40,497
30 Day Avg. Volume44,283
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)1.10
Price to Sales (P/S)3.19
P/FCF Ratio-11.79
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue5.28
Enterprise Value/Gross Profit4.65
Enterprise Value/Ebitda22.72
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Fortitude Gold Corp. Business Overview & Revenue Model
Company DescriptionFortitude Gold Corporation, a mining company, focuses on exploring gold and silver projects. Its principal property is the Isabella Pearl mine project covering an area of 9,777 acres located in the Mineral County, Nevada. The company was incorporated in 2020 and is headquartered in Colorado Springs, Colorado.
How the Company Makes MoneyFortitude Gold Corp. generates revenue through the sale of gold and other precious metals extracted from its mining operations. The company's primary revenue stream comes from the production and sale of gold bullion in the global commodities market. Fortitude Gold Corp. focuses on operating high-grade, low-cost mining operations to maximize profitability. The company may also engage in strategic partnerships or joint ventures to enhance its exploration and production capabilities, although specific partnerships contributing to earnings are not disclosed. Additionally, the company may leverage fluctuations in gold prices to optimize its revenue, adjusting production levels and sales strategies accordingly.
Fortitude Gold Corp. Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 03, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook, highlighting significant progress in project permits and operational efficiencies, but also facing challenges with profitability and permit delays due to external factors.Q3-2025 Updates
Positive Updates
County Line Project Permits Secured
The company has received all necessary permits for the County Line project, allowing them to proceed with drilling and infrastructure planning.
Introduction of In-House Mining Operations
Fortitude Gold has brought its mining operations in-house, leasing a new fleet of Komatsu equipment, which is expected to save costs and improve operational efficiency.
Record Gold Prices
Despite a recent pullback, gold prices remain close to $4,000, which is a favorable selling price for the company.
Heap Leach Expansion Permit Received
The company received a permit for heap leach expansion, allowing for increased capacity in processing ore.
Negative Updates
Low Net Income and Sales
Third quarter results showed $4.7 million in net sales and only $0.2 million in net income, translating to $0.01 per share.
High All-In Sustaining Costs
The all-in sustaining cost per ounce was $1,956, which was considered high due to some capital expenditures.
Government Shutdown Impact
The recent government shutdown has delayed permits, impacting the timing of project initiatives like the Scarlet South permit.
No Production Forecast
The company did not provide a production projection for the rest of 2025 or 2026 due to ongoing uncertainties.
Company Guidance
In the Fortitude Gold 2025 Third Quarter Conference Call, CEO Jason Reid provided detailed financial and operational guidance. The company reported $4.7 million in net sales and a net income of $0.2 million, equating to $0.01 per share. As of September 30, 2025, their cash balance stood at $11.7 million, with $28.5 million in working capital. Fortitude Gold produced 1,384 gold ounces at a total cash cost after by-product credits of $1,244 per ounce sold, and an all-in sustaining cost of $1,956 per ounce. The company paid $0.7 million in dividends and held 619 ounces of gold bullion. Exploration expenditures amounted to $1.6 million, while mine gross profit was $2.5 million. Operationally, they have commenced drilling a water well for the County Line project and are planning infrastructure projects, having secured all necessary permits. The company aims to capitalize on the current permitting momentum to advance other projects like Scarlet South, while also managing their new in-house mining operations with leased equipment. Despite the challenges posed by the Biden administration, they are strategically positioning themselves to benefit from the Trump administration's pro-business stance, emphasizing future growth and resilience.Fortitude Gold Corp. Financial Statement Overview
Summary
Fortitude Gold Corp. is experiencing financial challenges with a significant revenue decline and net loss, as evidenced by the income statement score of 55.0. The balance sheet remains strong with zero debt and high liquidity, scoring 70.0, but the cash flow score of 45.0 points to serious cash flow issues.Income Statement
The income statement reveals a challenging year for Fortitude Gold Corp. with a decline in revenue from $73.07M in 2023 to $18.33M in 2024. The gross profit margin remained strong at 100% due to the absence of reported costs, but the net profit margin turned negative at -11.14%, reflecting a net loss. The EBIT and EBITDA margins were 67.61% and 39.63%, respectively, indicating operational efficiency despite the revenue downturn. Previous years showed fluctuating revenue growth, with a significant decline from 2022 to 2023.55
Neutral
Balance Sheet
Fortitude Gold Corp. maintains a solid balance sheet with zero debt in 2024, enhancing financial stability. The equity ratio stands at 88.54%, indicating strong reliance on equity financing. However, return on equity plummeted to -1.89% due to the net loss. The company has consistently maintained a high level of cash and cash equivalents, signifying strong liquidity.70
Positive
Cash Flow
The cash flow statement highlights challenges with a negative operating cash flow of -$6.64M and free cash flow of -$10.10M in 2024. This contrasts with stronger cash flows in previous years, such as a positive free cash flow of $17.55M in 2023. The operating cash flow to net income and free cash flow to net income ratios were not favorable, indicating cash flow issues alongside a net loss.45
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.79M | 37.33M | 73.07M | 74.38M | 82.11M | 53.97M |
| Gross Profit | 23.61M | 18.33M | 41.23M | 35.40M | 40.56M | 16.18M |
| EBITDA | 4.83M | 5.54M | 30.67M | 31.45M | 38.85M | 21.05M |
| Net Income | -517.00K | -2.04M | 17.02M | 14.68M | 17.87M | 10.22M |
Balance Sheet | ||||||
| Total Assets | 136.18M | 122.11M | 135.00M | 131.16M | 122.43M | 113.03M |
| Cash, Cash Equivalents and Short-Term Investments | 11.72M | 28.99M | 50.21M | 45.05M | 40.02M | 27.77M |
| Total Debt | 17.35M | 0.00 | 631.00K | 3.83M | 618.00K | 14.00M |
| Total Liabilities | 29.45M | 14.01M | 14.45M | 15.40M | 10.08M | 15.06M |
| Stockholders Equity | 106.73M | 108.09M | 120.55M | 115.76M | 112.35M | 97.97M |
Cash Flow | ||||||
| Free Cash Flow | -10.10M | -10.10M | 17.55M | 16.61M | 20.12M | 6.51M |
| Operating Cash Flow | -8.68M | -6.64M | 22.98M | 28.57M | 24.66M | 13.00M |
| Investing Cash Flow | -1.38M | -3.43M | -6.85M | -11.96M | -4.55M | -6.49M |
| Financing Cash Flow | -8.53M | -11.52M | -12.50M | -11.57M | -7.88M | 20.39M |
Fortitude Gold Corp. Technical Analysis
Negative
4.06
Price Trends
4.31
Negative
4.08
Negative
3.92
Positive
Market Momentum
-0.07
Positive
43.52
Neutral
54.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FTCO, the sentiment is Negative. The current price of 4.06 is below the 20-day moving average (MA) of 4.14, below the 50-day MA of 4.31, and above the 200-day MA of 3.92, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 43.52 is Neutral, neither overbought nor oversold. The STOCH value of 54.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FTCO.
Fortitude Gold Corp. Risk Analysis
Fortitude Gold Corp. disclosed 36 risk factors in its most recent earnings report. Fortitude Gold Corp. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fortitude Gold Corp. Peers Comparison
UnderperformOutperform
Sector (61)
FTCO
Fortitude Gold Corp.
4.06
-0.85
-17.31%
USAU
US Gold
17.43
10.68
158.22%
GORO
Gold Resource
0.85
0.69
431.25%
PZG
Paramount Gold Nevada
1.18
0.83
237.14%
NAMM
Namib Minerals
1.18
-9.42
-88.87%
BGL
Blue Gold
3.09
-9.21
-74.88%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.