Canada's Fortuna Mining Q1 sales jump 76%, net income more than doubles on higher gold prices

Fortuna Mining

07/05/2026 03:14

Overview

The Canadian precious metals miner's Q1 sales rose 76% yr/yr, adjusted net income more than doubled

Higher realized gold prices and increased production at Séguéla and Lindero drove results

Company returned $40 mln to shareholders via share repurchases, expanded mineral reserves by 15% yr/yr

Outlook

Fortuna says it remains on track to deliver its 2026 production guidance

Company expects Séguéla AISC to reach higher end of guidance range due to mine plan changes

Fortuna anticipates investment decisions on Diamba Sud and Séguéla plant expansion by mid-year

Result Drivers

HIGHER GOLD PRICES - Co said increased realized gold prices were a primary driver of higher adjusted net income and cash flow

INCREASED PRODUCTION - Higher gold production at Séguéla and Lindero mines contributed to greater sales and earnings

HIGHER ROYALTIES AND CAPEX - All-in sustaining costs rose due to higher royalties from increased metal prices and greater capital expenditures

Company press release: ID:nGNX96Bwf3

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
$342.50 mln
$340 mln (1 Analyst)
Q1 Adjusted Net Income
$111 mln
Q1 Adjusted EBITDA
$218.80 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 39.3% above its May 6 closing price of C$13.46

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

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.)