Fortuna Mining Corp.
Fortuna Mining Corp. is a Canadian precious metals mining company focused on the exploration, extraction, and processing of gold, silver, lead, and zinc. The company operates producing mines and related activities across Latin America and West Africa, with core assets including the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d’Ivoire, and the Caylloma silver, lead, and zinc mine in Peru. Fortuna Mining Corp. also maintains exploration and development projects in selected jurisdictions, supporting a diversified portfolio of mineral assets. Its business is organized through operating segments that manage mining, processing, and corporate functions, allowing the company to serve the global metals supply chain. With a presence in multiple mining regions, Fortuna Mining Corp. plays a role in supplying precious and base metals used across industrial, financial, and manufacturing markets.
$10.34
-$0.05 (-0.48%)
EOD Oct 21, 2026
Margins and capital returns are both well above average: 38.98% operating margin, ROIC at 15.01%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue declined 10.8% YoY. The question is whether this is cyclical or a structural shift.
Even for strong businesses, today's 9x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
8.7x earnings, 5.5x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.18B
▼ -10.8% YoY
Net Income (TTM)
$406M
▲ +119.2% YoY
Op. Margin
48.66%
▲ +14.8pp YoY
ROIC
15.01%
▲ +4.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$613M
▲ +71.3% YoY
Op. Cash Flow (TTM)
$819M
▲ +9.5% YoY
Net Debt
-$349M
Net Cash Position
Cash & Equiv.
$561M
3Y CAGR: +11.6%
Continue Research
Is Fortuna Mining (FSM) overvalued?
At a P/E of 8.7 and a price-to-free-cash-flow of 5.5, Fortuna Mining (FSM) trades below a two-stage DCF intrinsic value of about $95.16 per share, so at $10.34 the stock looks undervalued (820.4% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Fortuna Mining scores 88/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Fortuna Mining's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $95.16 per share for FSM, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $71.37. At today's $10.34, that puts the stock about 820.4% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Fortuna Mining a high-quality business?+
Fortuna Mining scores 88 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 48.7% operating margin and a 15.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Fortuna Mining a good stock to buy right now?+
That depends on valuation and quality together, not either alone. FSM currently trades below its estimated intrinsic value and scores 88/100 on quality (high-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Gold
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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