Fortuna Mining Corp (FVI) AI Stock Analysis

• Market Cap: $4.24B
• Dividend Yield: N/A
• Average Volume (3M): 1.17M
• Price to Earnings (P/E): 12.7
• Beta (1Y): 1.99
• Revenue Growth: 7.61%
• EPS Growth: 915.74%
• Country: CA
• Employees: 4,961
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Silver
• EPS (TTM): 0.24
• Shares Outstanding: 306,960,000
• 10 Day Avg. Volume: 868,094
• 30 Day Avg. Volume: 1,166,029
• PEG Ratio: -0.03
• Price to Book (P/B): 0.94
• Price to Sales (P/S): 1.25
• P/FCF Ratio: 8.18
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 3.58
• Enterprise Value/Gross Profit: 9.47
• Enterprise Value/Ebitda: 7.18
• 1Y Price Target: $13.33
• Price Target Upside: -3.45% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: C$16.00 ▲(15.86% Upside)

Fortuna Mining Corp's strong financial performance and positive earnings call sentiment are the most significant factors driving the score. The company's robust operational metrics and strategic growth initiatives further enhance its outlook. Technical analysis supports a positive trend, while valuation remains attractive.

Positive Factors

Conservative balance sheet

Very low leverage and a high equity ratio give the company structural financial flexibility. This conservatism supports capital allocation for growth projects, cushions commodity cyclicality, and reduces refinancing risk, preserving long-term resilience and strategic optionality.

Strong cash generation & liquidity

Robust operating cash flow and a large liquidity buffer support reinvestment, sustaining dividends or buybacks, and funding expansion without heavy external financing. Reliable cash generation underpins durable project funding and resilience through commodity cycles.

High margins and operational efficiency

Sustained high gross and EBITDA margins indicate strong cost control and scalable operations. These margins provide insulation when prices fall, fund exploration and development, and enhance free cash flow conversion, supporting long-term profitability and growth execution.

Negative Factors

Recent revenue decline

A recent drop in reported revenue is a structural concern if persistent; it can reflect lower production, grade decline, or weaker metal sales. Continued revenue contraction would pressure margins, free cash flow and the ability to fund long‑lead mining projects over the medium term.

Operational reliability risk at Lindero

Mechanical failures at a major mine can cause multi-quarter production shortfalls, higher maintenance capital, and schedule delays for reserve development. Recurrent reliability issues weaken production predictability and raise sustaining capital needs, reducing long-term cash certainty.

Rising unit costs and FX exposure

Higher site-level cash costs and meaningful FX losses indicate margin pressure from royalties, capital spend and currency volatility. If these cost trends persist, they will erode free cash flow, reduce project returns and heighten sensitivity to metal price declines over the medium term.

Fortuna Mining Corp Business Overview & Revenue Model

Company Description

Fortuna Silver Mines Inc. engages in the acquisition, exploration, and mining of precious and base metal deposits in Argentina, Burkina Faso, Mexico, Peru, and Côte d'Ivoire. It holds interest in the Caylloma silver, lead, and zinc mine located in southern Peru; the San Jose silver and gold mine situated in southern Mexico; the Lindero gold project located in Argentina; Yaramoko gold mine situated in south western Burkina Faso; and Séguéla gold mine located in south western Côte d'Ivoire. The company was formerly known as Fortuna Ventures Inc. and changed its name to Fortuna Silver Mines Inc. in June 2005. Fortuna Silver Mines Inc. was incorporated in 1990 and is based in Vancouver, Canada.

How the Company Makes Money

Fortuna Mining Corp generates revenue primarily through the sale of extracted precious metals, including gold and silver. The company operates several mining projects, where it extracts these metals and sells them on the open market. Key revenue streams include direct sales from its mining operations, royalties from partnerships with other mining companies, and potential income from metal trading. Fortuna Mining also engages in strategic partnerships, which may include joint ventures or collaborations with other mining firms to optimize resource extraction and reduce operational costs, thereby enhancing its profitability.

Fortuna Mining Corp Financial Statement Overview

Summary

Fortuna Mining Corp demonstrates strong profitability and operational efficiency, with a solid balance sheet characterized by low leverage. However, the decline in revenue growth and free cash flow growth presents potential challenges. The company is well-positioned in terms of profitability and financial stability, but should focus on reversing the negative growth trends to sustain its financial health.

Income Statement

Fortuna Mining Corp has shown a strong performance in terms of profitability with a high gross profit margin of 37.78% and a net profit margin of 14.36% in the TTM. However, the revenue growth rate has declined by 2.62%, indicating a potential challenge in maintaining growth. The EBIT and EBITDA margins are robust at 29.25% and 51.53% respectively, showcasing operational efficiency.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio of 0.14, indicating low leverage and financial stability. The return on equity is solid at 10.91%, reflecting effective use of shareholders' equity to generate profits. However, the equity ratio is not explicitly calculated, which could provide further insights into asset financing.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 1.18%, which could be a concern for future investments and operations. The operating cash flow to net income ratio is strong at 2.01, indicating good cash generation relative to net income. The free cash flow to net income ratio is moderate at 0.55, suggesting a balanced cash flow position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.10B	1.06B	842.43M	681.49M	599.85M	278.97M
Gross Profit	414.67M	343.61M	190.03M	146.80M	205.48M	110.22M
EBITDA	546.76M	471.21M	230.79M	59.05M	242.05M	106.62M
Net Income	157.67M	128.74M	-50.84M	-135.91M	57.88M	21.55M
Balance Sheet
Total Assets	2.14B	2.12B	1.97B	1.88B	2.02B	1.06B
Cash, Cash Equivalents and Short-Term Investments	394.02M	231.33M	128.15M	80.57M	107.51M	132.96M
Total Debt	216.04M	194.01M	264.25M	240.52M	186.89M	178.11M
Total Liabilities	595.87M	649.46M	679.74M	587.53M	592.35M	329.57M
Stockholders Equity	1.49B	1.40B	1.24B	1.24B	1.38B	725.77M
Cash Flow
Free Cash Flow	238.27M	161.90M	79.59M	-56.99M	-5.15M	-20.94M
Operating Cash Flow	436.88M	365.68M	296.91M	194.25M	147.14M	93.39M
Investing Cash Flow	-129.33M	-194.44M	-216.88M	-255.33M	-118.50M	-113.65M
Financing Cash Flow	-36.47M	-66.14M	-32.72M	38.47M	-51.42M	68.91M

Fortuna Mining Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FVI, the sentiment is Positive. The current price of 13.81 is above the 20-day moving average (MA) of 13.56, above the 50-day MA of 12.75, and above the 200-day MA of 10.44, indicating a bullish trend. The MACD of 0.28 indicates Positive momentum. The RSI at 55.39 is Neutral, neither overbought nor oversold. The STOCH value of 78.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FVI.

Fortuna Mining Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SCZ	80 Outperform	C$1.24B	11.31	47.13%	―	21.03%	-48.39%
APM	77 Outperform	C$1.40B	13.04	42.17%	―	33.21%	47.22%
FVI	76 Outperform	$4.24B	12.66	15.63%	―	7.61%	915.74%
SVM	73 Outperform	C$2.74B	79.63	3.54%	0.29%	37.50%	-60.92%
AYA	66 Neutral	C$3.03B	1,232.14	0.71%	―	241.04%	-80.07%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
DV	56 Neutral	C$554.88M	-18.15	-26.19%	―	―	-5.25%

Fortuna Mining Corp Corporate Events

Fortuna Mining Reports Promising Drilling Results at Diamba Sud Project

Fortuna Mining Corp has announced significant exploration drilling results from the Southern Arc deposit at its Diamba Sud Gold Project in Senegal. The results include high-grade intersections, such as 1.7 g/t gold over 29.6 meters and 2.0 g/t gold over 20.0 meters, indicating an expansion of mineralization. These findings are expected to contribute to an updated resource estimate in early 2026, further supporting the project’s progression towards a feasibility study and potential construction decision by the second quarter of 2026.

The most recent analyst rating on (TSE:FVI) stock is a Buy with a C$14.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Initiates Expansion Study for Séguéla Mine

Fortuna Mining Corp. has awarded Lycopodium Minerals Canada Ltd. the contract to conduct a study for expanding the processing plant at the Séguéla Mine in Côte d’Ivoire. This initiative aims to increase the plant’s throughput by 15 to 40 percent, supporting Fortuna’s growth strategy and potentially enhancing annual gold production to over 200,000 ounces. The expansion is part of Fortuna’s broader objective to achieve 500,000 ounces of annual gold equivalent production within three years, leveraging exploration successes and resource growth, including potential underground mineralization from the Sunbird deposit.

The most recent analyst rating on (TSE:FVI) stock is a Buy with a C$15.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Highlights Diamba Sud Gold Project Potential

Fortuna Mining Corp. has filed a technical report for the Diamba Sud Gold Project in Senegal, highlighting its development potential. This report supports the results of a Preliminary Economic Assessment, indicating promising prospects for the project, which could enhance Fortuna’s operational footprint and influence in the precious metals industry.

The most recent analyst rating on (TSE:FVI) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Corp Expands Gold Reserves at Séguéla Mine

Fortuna Mining Corp has announced an update to its mineral reserves and resources at the Séguéla Mine in Côte d’Ivoire, with a notable increase in gold reserves and resources. The company reports 1.2 million ounces of gold in mineral reserves, a significant increase compared to the previous year, and substantial growth in indicated and inferred resources. This expansion supports a longer mine life and potential plant expansion, enhancing Fortuna’s operational capacity and positioning in the gold mining industry. The company is undertaking aggressive exploration and technical studies to further capitalize on these developments, which could lead to increased annual production and further value creation for stakeholders.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$12.00 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Corp Reports Strong Q3 2025 Results and Promising Growth Prospects

Fortuna Mining Corp reported strong financial and operational results for the third quarter of 2025, with a significant increase in free cash flow and a strengthened balance sheet. The company remains on track to meet its annual production guidance, benefiting from higher gold prices and consistent mine performance. Key investments at the Lindero and Séguéla mines are expected to support future production growth, while the completion of a Preliminary Economic Assessment for the Diamba Sud Gold Project highlights potential for further expansion. Fortuna’s robust liquidity position allows it to fund growth initiatives, enhancing its industry positioning and offering promising prospects for stakeholders.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Expands High-Grade Gold Mineralization at Sunbird Deposit

Fortuna Mining Corp. has announced successful exploration drilling results from the Sunbird Deposit at the Séguéla Mine in Côte d’Ivoire, highlighting the extension of high-grade mineralization and the confirmation of a second underground shoot. These developments indicate potential for resource growth and an extended mine life, with ongoing drilling and an underground study underway to further explore and expand the mineralized envelope. The results strengthen Fortuna’s position in the mining industry, potentially enhancing stakeholder value through increased resource confidence and operational longevity.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Expands High-Grade Gold Deposits at Séguéla Mine

Fortuna Mining Corp has announced successful exploration drilling results at the Sunbird Deposit in the Séguéla Mine, Côte d’Ivoire. The drilling has extended high-grade mineralization at depth and confirmed a second underground shoot, supporting potential resource growth and mine life extension. This development strengthens Fortuna’s position in the mining industry, with ongoing studies and drilling aimed at further expanding the mineralized envelope, which remains open at depth and along strike.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Corp. Announces Q3 2025 Financial Results Release and Conference Call

Fortuna Mining Corp. will release its third quarter 2025 financial results on November 5, 2025, followed by a conference call on November 6, 2025, to discuss the financial and operational outcomes. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting investor confidence and market positioning.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$10.50 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Unveils Promising PEA for Diamba Sud Gold Project

Fortuna Mining Corp has released a Preliminary Economic Assessment (PEA) for its Diamba Sud Gold Project in Senegal, revealing strong economic potential with an after-tax IRR of 72% and an NPV5% of $563 million at a gold price of $2,750 per ounce. The project is expected to produce an average of 147,000 ounces of gold annually in the first three years at an AISC of $904 per ounce, with a payback period of ten months. The company is advancing towards a construction decision in 2026, supported by robust financials and ongoing exploration efforts aimed at extending the project’s life beyond a decade.

The most recent analyst rating on (TSE:FVI) stock is a Sell with a C$9.00 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.

Fortuna Mining Corp. Reports Q3 2025 Gold Production and Strategic Developments

Fortuna Mining Corp. reported a production of 72,462 gold equivalent ounces for the third quarter of 2025, slightly down from the previous year but up from the second quarter. The company remains on track to meet its annual production guidance of 309,000 to 339,000 GEO. Significant developments include permit approvals for new satellite pits and successful exploration at the Sunbird underground project, which could optimize future mine plans. Additionally, infrastructure projects such as the tailings storage facility expansion and solar power plant construction are progressing, indicating a strategic focus on sustainability and operational efficiency.

The most recent analyst rating on (TSE:FVI) stock is a Hold with a C$8.00 price target. To see the full list of analyst forecasts on Fortuna Mining Corp stock, see the TSE:FVI Stock Forecast page.