Fortuna Mining Corp
FSM—
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Fortuna Mining Corp AI Insights
Informational only. Not investment advice.Snapshot
- EPS 3Y CAGR of 211% vs industry median 19% - exceptional earnings leverage from gold/silver price cycle[EPS Growth 3Y]
- Operating margin 31.2% TTM vs industry median 0% - top-tier cost structure among precious metals miners[Operating Margin TTM]
- FCF of 228M TTM (18% yield on revenue) with debt/equity 0.13 - self-funding growth capacity[Free Cash Flow TTM]
Watch Triggers
- Operating Margin TTM: Falls below 20% — Would signal cost inflation or commodity price weakness eroding structural advantage
- Free Cash Flow TTM: Turns negative — Capex intensity could consume cash buffer; watch for dilutive financing
- Impairment of Capital Assets: Recurring charges >25M annually — Pattern would indicate systematic asset quality deterioration
Bull Case
Exceptional profitability (31% op margin, 15% ROE, 13% ROIC) at P/E 13x vs industry 28x - valuation discount despite superior returns
Operating Margin TTMROE TTMP/E Ratio
Balance sheet optionality: 438M cash, 0.13 debt/equity enables M&A or shareholder returns without dilution
Cash and EquivalentsDebt to EquityFree Cash Flow TTM
Bear Case
53M impairment charge TTM signals asset quality concerns; commodity price decline would compress margins rapidly
Impairment of Capital AssetsOperating Margin TTM
Zero dividend payout despite strong FCF - capital allocation unclear; 228M capex requirement ongoing
Dividends Paid Per Share TTMCapital Expenditure TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
62%
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Forward Thesis
Margin expansion likely to continue if gold prices sustain above $2,000/oz
1-3ymed
- Operating leverage on fixed mine costs
- Capex cycle maturing (228M vs 455M OCF)
- Low debt enables full FCF retention
EBITDA margin 54% TTMROE 15.2% vs industry -4.2%Working capital 451M provides buffer
Valuation Context
Caveats
FSM Fundamentals
Mining, Quarrying, and Oil and Gas Extraction → Mining (except Oil and Gas)
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.71B | — | ||
$3.25B | — | ||
10 | — | ||
$1.09B | -4.9% | — | |
$1.06 | +81.9% | — | |
45.3% | +19.7% | — | |
31.1% | +17.1% | — | |
$512.17M | +112.4% | — | |
21.0% | +9.2% | — | |
Beta 5Y (Monthly) | unknown | — |
FSM Dividend History
No dividends
FSM Stock Splits
No stock splits
FSM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/06/26 | 03/31/26 | Quarterly | -- |
05/07/26 | 03/31/26 | 6-K | |
02/18/26 | 12/31/25 | 6-K | |
03/26/26 | 12/31/25 | 40-F | |
11/06/25 | 09/30/25 | 6-K | |
08/07/25 | 06/30/25 | 6-K | |
05/08/25 | 03/31/25 | 6-K | |
03/27/25 | 12/31/24 | 40-F | |
11/07/24 | 09/30/24 | 6-K | |
08/08/24 | 06/30/24 | 6-K | |
05/08/24 | 03/31/24 | 6-K | |
03/28/24 | 12/31/23 | 40-F | |
11/08/23 | 09/30/23 | 6-K | |
08/10/23 | 06/30/23 | 6-K | |
05/16/23 | 03/31/23 | 6-K | |
03/30/23 | 12/31/22 | 40-F | |
11/10/22 | 09/30/22 | 6-K | |
08/11/22 | 06/30/22 | 6-K | |
05/12/22 | 03/31/22 | 6-K | |
03/31/22 | 12/31/21 | 40-F | |
11/12/21 | 09/30/21 | 6-K | |
08/12/21 | 06/30/21 | 6-K | |
05/11/21 | 03/31/21 | 6-K | |
03/30/21 | 12/31/20 | 40-F | |
11/16/20 | 09/30/20 | 6-K | |
08/14/20 | 06/30/20 | 6-K | |
05/18/20 | 03/31/20 | 6-K | |
03/30/20 | 12/31/19 | 40-F | |
11/14/19 | 09/30/19 | 6-K | |
08/08/19 | 06/30/19 | 6-K | |
05/14/19 | 03/31/19 | 6-K | |
03/29/19 | 12/31/18 | 40-F | |
11/09/18 | 09/30/18 | 6-K | |
08/09/18 | 06/30/18 | 6-K | |
05/09/18 | 03/31/18 | 6-K | |
04/02/18 | 12/31/17 | 40-F | |
11/09/17 | 09/30/17 | 6-K | |
08/15/17 | 06/30/17 | 6-K | |
05/25/17 | 03/31/17 | 6-K | |
05/15/17 | 12/31/16 | 40-F | |
11/08/16 | 09/30/16 | 6-K | |
08/19/16 | 06/30/16 | 6-K | |
05/24/16 | 03/31/16 | 6-K | |
03/29/16 | 12/31/15 | 40-F | |
11/19/15 | 09/30/15 | 6-K | |
08/19/15 | 06/30/15 | 6-K | |
05/12/15 | 03/31/15 | 6-K | |
03/27/15 | 12/31/14 | 40-F | |
11/20/14 | 09/30/14 | 6-K | |
08/25/14 | 06/30/14 | 6-K | |
05/21/14 | 03/31/14 | 6-K | |
03/31/14 | 12/31/13 | 40-F | |
11/18/13 | 09/30/13 | 6-K | |
08/22/13 | 06/30/13 | 6-K | |
05/20/13 | 03/31/13 | 6-K | |
04/01/13 | 12/31/12 | 40-F | |
12/03/12 | 09/30/12 | 6-K | |
08/22/12 | 06/30/12 | 6-K | |
05/25/12 | 03/31/12 | 6-K | |
03/30/12 | 12/31/11 | 40-F | |
11/09/11 | 09/30/11 | Quarterly | -- |
08/10/11 | 06/30/11 | Quarterly | -- |
05/13/11 | 03/31/11 | Quarterly | -- |
03/23/11 | 12/31/10 | Annual | -- |
11/12/10 | 09/30/10 | Quarterly | -- |
08/12/10 | 06/30/10 | Quarterly | -- |
04/29/10 | 03/31/10 | Quarterly | -- |
03/24/10 | 12/31/09 | Annual | -- |
11/12/09 | 09/30/09 | Quarterly | -- |
08/11/09 | 06/30/09 | Quarterly | -- |
05/15/09 | 03/30/09 | Quarterly | -- |
03/31/09 | 12/31/08 | Annual | -- |
09/30/08 | 09/30/08 | Unknown | -- |
06/30/08 | 06/30/08 | Unknown | -- |
03/31/08 | 03/30/08 | Unknown | -- |
12/31/07 | 12/31/07 | Unknown | -- |
09/30/07 | 09/30/07 | Unknown | -- |
06/30/07 | 06/30/07 | Unknown | -- |
03/31/07 | 03/30/07 | Unknown | -- |
09/30/06 | 09/30/06 | Unknown | -- |
06/30/06 | 06/30/06 | Unknown | -- |
03/31/06 | 03/30/06 | Unknown | -- |
12/31/05 | 12/31/05 | Unknown | -- |
09/30/05 | 09/30/05 | Unknown | -- |
06/30/05 | 06/30/05 | Unknown | -- |
03/31/05 | 03/30/05 | Unknown | -- |
12/31/04 | 12/31/04 | Unknown | -- |
09/30/04 | 09/30/04 | Unknown | -- |
06/30/04 | 06/30/04 | Unknown | -- |
03/31/04 | 03/30/04 | Unknown | -- |
12/31/03 | 12/31/03 | Unknown | -- |