FSM
Basic MaterialsFortuna Mining Corp. · Gold · $3B
What is Fortuna Mining Corp.?
Fortuna Mining Corp. is a mid-cap precious and base metals producer operating mines across Latin America, West Africa, and beyond. The company focuses on silver and gold production from a diversified portfolio of operating assets.
Fortuna Mining generates revenue by extracting and selling precious metals — primarily silver and gold — alongside base metals such as lead and zinc. Its operating mines span Peru, Mexico, Argentina, Burkina Faso, and Côte d'Ivoire, giving the company geographic diversification uncommon among mid-cap miners. Revenue is tied directly to commodity prices, mine throughput, and operational efficiency across each jurisdiction.
Incorporated in 1990 and headquartered in Vancouver, Canada, Fortuna Mining has grown through acquisition and exploration into a multi-continent mining operator.
- Silver and gold mining operations across five countries
- Caylloma silver, lead, and zinc mine in Peru
- San Jose silver and gold mine in Mexico
- Lindero gold project in Argentina
- Yaramoko and Séguéla gold mines in West Africa
Is FSM a Good Stock to Buy?
UQS Score rates FSM as Very Good overall, reflecting a balanced profile with notable strengths across several key dimensions.
The Quality and Risk pillars both register as Strong, suggesting Fortuna Mining demonstrates above-average financial discipline and a manageable risk profile relative to sector peers. The Valuation pillar is rated Attractive, meaning the stock does not appear expensive relative to its fundamentals — a meaningful consideration for value-oriented investors in the mining space.
The Moat pillar is rated Weak, which is common in commodity mining where pricing power is largely determined by global markets rather than company-specific advantages.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FSM pay dividends?
No — Fortuna Mining Corp. does not currently pay a dividend.
Fortuna Mining does not currently pay a dividend. For a growth-oriented miner operating across multiple development-stage and producing assets, retaining capital to fund exploration, mine development, and operational expansion is a common strategic priority. Income-focused investors should factor this into their assessment.
When does FSM report earnings?
Fortuna Mining reports earnings on a quarterly cadence, consistent with standard practice for TSX and NYSE-listed mining companies.
The company's Growth pillar is rated Good, indicating that revenue and production trends have been moving in a constructive direction relative to sector peers. Multi-mine operators like Fortuna can show variability quarter to quarter depending on ore grades and commodity price realizations.
For the most recent quarter's results and guidance updates, visit Fortuna Mining's investor relations page directly.
FSM Price History
+44.9% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Fortuna Mining Corp.?
Based on Fortuna Mining Corp.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FSM Long-term Outlook
Fortuna Mining's combination of a Good Growth rating and Strong Risk profile points to a company navigating expansion while keeping financial risk in check. The Attractive Valuation label adds further interest for investors seeking commodity exposure without paying a premium multiple. That said, the Weak Moat rating is a structural reminder that gold and silver miners remain price-takers in global commodity markets, limiting pricing power regardless of operational quality.
Growth drivers
- Ramp-up and optimization of West African gold assets, particularly Séguéla
- Sustained or rising precious metals prices supporting revenue growth
- Exploration upside across existing land packages in Latin America and Africa
Key risks
- Geopolitical and operational risk across multiple high-risk jurisdictions
- Commodity price volatility directly impacting revenue and margins
- Capital intensity of mine development and potential cost overruns
FSM vs Peers
Fortuna Mining operates in a competitive mid-tier precious metals mining space alongside several silver and gold-focused peers.
Guardian Metal Resources is a smaller exploration-stage company, contrasting with Fortuna's diversified portfolio of producing mines.
Endeavour Silver focuses primarily on silver production in Mexico, offering a more concentrated geographic and metal exposure compared to Fortuna's multi-country, multi-metal approach.
The TSX-listed counterpart to EXK, Endeavour Silver trades on the same operational fundamentals but serves Canadian market investors seeking direct silver exposure.
Frequently Asked Questions
What does Fortuna Mining Corp. do?
Fortuna Mining Corp. acquires, explores, and operates precious and base metal mines across Latin America and West Africa. Its producing assets include silver, gold, lead, and zinc mines in Peru, Mexico, Argentina, Burkina Faso, and Côte d'Ivoire. The company sells its metal production into global commodity markets.
Does FSM pay dividends?
FSM does not currently pay a dividend. As a growth-oriented miner with active development projects across multiple continents, the company prioritizes reinvesting capital into mine operations and exploration rather than returning cash to shareholders through dividends.
When does FSM report earnings?
Fortuna Mining reports on a quarterly cadence. Exact upcoming dates are not confirmed through our data source — check the company's investor relations page for the current earnings calendar and any guidance updates.
Is FSM a good stock to buy?
UQS Score rates FSM as Very Good, with Strong marks in Quality and Risk and an Attractive Valuation label. The Moat pillar is Weak, reflecting the commodity-driven nature of mining. Whether FSM fits your portfolio depends on your risk tolerance and commodity outlook. The full pillar breakdown is available to Pro members.
Is FSM overvalued?
The UQS Valuation pillar for FSM is rated Attractive, suggesting the stock is not trading at an excessive premium relative to its fundamentals. For mid-cap miners, valuation can shift quickly with commodity prices, so ongoing monitoring is worthwhile.
How does FSM compare to its competitors?
Compared to peers like Endeavour Silver, Fortuna Mining stands out for its geographic diversification — operating across five countries and producing both silver and gold alongside base metals. This breadth can reduce single-asset risk but also introduces multi-jurisdictional operational complexity.
What is FSM's market cap bracket?
Fortuna Mining is classified as a mid-cap company. This places it above the smaller exploration-stage miners but below the major senior gold and silver producers, making it a common choice for investors seeking meaningful mining exposure with more growth potential than mega-cap peers.
Who founded Fortuna Mining Corp.?
The company was incorporated in 1990 under the name Fortuna Ventures Inc. and later renamed Fortuna Silver Mines Inc. in 2005. Founding and leadership history is publicly available through the company's official corporate disclosures and investor relations materials.
Is FSM a long-term quality investment?
As a long-term quality indicator, FSM's Strong Quality and Risk pillar ratings suggest the company has demonstrated financial discipline and manageable risk relative to sector peers. The Weak Moat rating is a structural consideration — commodity miners rarely build durable pricing power. Pro members can view the complete multi-pillar analysis.
What is the main competitive advantage of Fortuna Mining?
Fortuna Mining's primary differentiator is its geographic and asset diversification — operating producing mines across five countries reduces dependence on any single mine or jurisdiction. This breadth, combined with a mix of silver and gold production, provides some natural hedge against localized disruptions.
What sector does FSM belong to?
FSM belongs to the Basic Materials sector, specifically within precious and base metals mining. This sector is closely tied to global commodity price cycles, making macroeconomic conditions and metal price trends key drivers of performance for companies like Fortuna Mining.
Is FSM a growth stock or value stock?
Based on UQS pillar ratings, FSM shows characteristics of both — the Growth pillar is rated Good, indicating constructive production and revenue trends, while the Valuation pillar is Attractive, suggesting it is not priced at a growth premium. This combination may appeal to investors seeking quality at a reasonable price in the mining sector.
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Pro Analysis
FSM — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 67.3 | 77.8 | 20.0 | 64.3 | 100.0 | 100.0 | +0.1 |
| May 11, 2026 | 67.2 | 77.8 | 20.0 | 64.3 | 100.0 | 99.3 | +0.6 |
| May 7, 2026 | 66.6 | 75.2 | 20.0 | 64.3 | 99.8 | 99.8 | 0.0 |
| May 3, 2026 | 66.6 | 75.2 | 20.0 | 64.3 | 99.8 | 100.0 | 0.0 |
| Apr 26, 2026 | 66.6 | 75.2 | 20.0 | 64.3 | 99.8 | 99.6 | +0.1 |
| Apr 22, 2026 | 66.5 | 75.2 | 20.0 | 64.3 | 99.8 | 99.2 | -5.6 |
| Apr 19, 2026 | 72.1 | 88.5 | 20.0 | 75.6 | 99.8 | 99.2 | 0.0 |
| Apr 18, 2026 | 72.1 | 88.5 | 20.0 | 75.6 | 99.8 | 99.4 | 0.0 |
| Apr 12, 2026 | 72.1 | 88.5 | 20.0 | 75.6 | 99.8 | 99.3 | 0.0 |
| Apr 3, 2026 | 72.1 | 88.5 | 20.0 | 75.6 | 99.8 | 99.4 | 0.0 |
FSM — Pillar Breakdown
Quality
— 77.8/100 (25%)Fortuna Mining Corp. demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 64.3/100 (20%)Fortuna Mining Corp. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 100.0/100 (15%)Fortuna Mining Corp. carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 100.0/100 (15%)Fortuna Mining Corp. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 20/100 (25%)Fortuna Mining Corp. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FSM.
Score Composition
Financial Data
More Stock Analysis
How is the FSM UQS Score Calculated?
The UQS (Unified Quality Score) for Fortuna Mining Corp. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Fortuna Mining Corp.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Fortuna Mining Corp. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.