Fortuna Mining (FSM) Climbs 12.6% on Higher Gold Resource
We recently published 10 Stocks Outrunning the Market; 3 on a High. Fortuna Mining Corp. (NYSE:FSM) was one of the best performers on Friday.
Fortuna Mining rallied for a third consecutive day on Friday, jumping 12.57 percent to close at $12.27 apiece as investor sentiment was boosted by a stellar earnings performance last year, coupled with a higher gold resource estimate for its Diamba Sud mine.
In a statement, Fortuna Mining Corp. (NYSE:FSM) said that net income soared by 119 percent to $311.6 million from $141.9 million in 2024, as revenues increased by 40 percent to $947 million from $677 million.
Photo by Gold-bar-jingming-pan on Unsplash
Gold production totaled 152,426 ounces, 11 percent higher year-on-year and exceeding the upper end of its annual guidance range, primarily due to the realization of throughput optimization projects through 2024.
In the fourth quarter alone, net income stood at $74 million, marking a 391 percent jump from the $15.08 million in the same period a year earlier.
Sales increased by 38 percent to $270 million from $195 million.
In other news, Fortuna Mining Corp. (NYSE:FSM) raised its gold resource estimate for its Diamba Sud Gold Project in Senegal, West Africa by 73 percent to 1.25 million ounces, reflecting rosy production prospects for the company.
While we acknowledge the potential of FSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
Content Original Link:
" target="_blank">
