Fortuna Mining Q3 sales beat on higher gold prices

Fortuna Mining

06/11/2025 08:58

Overview

Fortuna Q3 sales beat analyst expectations, driven by higher gold prices

Adjusted net income for Q3 rises due to higher gold sales and lower tax rate

Company reports strong liquidity with $588.3 mln, supporting growth initiatives

Outlook

Fortuna expects Séguéla Mine to produce 160,000–180,000 ounces in 2026

Company advancing Diamba Sud project towards feasibility study in H1 2026

Fortuna plans to expand exploration in West Africa and Latin America

Result Drivers

HIGHER GOLD PRICES - Increased gold prices contributed to higher free cash flow and net income, as stated by CEO Jorge A. Ganoza

COST MANAGEMENT - Cash costs remained below $1,000/oz, and AISC at mines tracked within guidance, with Lindero's AISC trending lower

LIQUIDITY STRENGTH - Liquidity increased to $588.3 mln, supporting growth initiatives like Diamba Sud and Séguéla Mine expansions

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$251.40 mln
$228.50 mln (2 Analysts)
Q3 Adjusted Net Income
$51 mln
Q3 Net Income
$52.70 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 1 "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$13.75, about 19.1% above its November 5 closing price of C$11.13

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

Press Release: ID:nGNE8sqtmw

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(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.)