Canada's Fortuna Mining Q2 adjusted income rise  on higher gold prices

Fortuna Mining

06/08/2026 02:36

Overview
Canada precious metals miner's Q2 sales rose 38% yr/yr to $318.4 mln
Adjusted net income and EBITDA increased on higher gold prices and volumes
Company returned $82.1 mln to shareholders via Q2 share buybacks

Outlook
Company expects AISC to trend down in H2 2026 as Lindero capital projects complete
Fortuna says it remains on track to achieve its annual production guidance
Company warns external cost factors may impact full-year cost guidance

Result Drivers
HIGHER GOLD PRICES - Co said increased realized gold prices contributed to higher sales and net income
COST INFLATION AND CURRENCY - Co cited higher cash costs and AISC due to Argentine peso appreciation, higher royalties, diesel prices, and inflationary effects
PLANNED MAINTENANCE AND CAPITAL SPEND - Co said higher costs at Lindero were driven by a 30-day primary crusher shutdown and increased maintenance and capital expenditures

Company press release: ID:nGNE2qCGsT

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Miss
$318.40 mln
$325 mln (1 Analyst)
Q2 Adjusted Net Income
 
$75.50 mln
 
Q2 Adjusted EBITDA
 
$200.80 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the gold peer group is "buy"
Wall Street's median 12-month price target for Fortuna Mining Corp is C$18.75, about 39.2% above its August 5 closing price of C$13.47
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
Aug 5 - Canada's Triple Flag Q2 adj EPS and EBITDA beat estimates, revenue up 37%
Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates
Aug 5 - Canada's Allied Gold Q2 gold output up 7% yr/yr

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)