Core Insights - Fortuna Mining Corp reported strong financial and operational results for Q4 and full year 2024, highlighting record free cash flow and significant returns to shareholders through share buybacks. Cash and Cashflow - The company achieved record free cash flow of $95.6 million in Q4 2024, a 69% quarter-over-quarter improvement, and $202.9 million for the full year 2024 [8] - Quarter-end cash increased to $231.3 million, up $50.7 million from the previous quarter, reflecting strong growth in free cash flow [8] - Net cash from operations before working capital adjustments was $141.6 million in Q4, a 21% increase quarter-over-quarter [14] Profitability - Attributable net income for Q4 was $11.3 million, a significant recovery from a net loss of $92.3 million in Q4 2023, driven by reduced non-cash charges [18] - Adjusted attributable net income was $37.0 million or $0.12 per share in Q4, compared to $20.6 million or $0.07 per share in Q4 2023 [19] - The realized gold price increased to $2,662 per ounce in Q4 2024, compared to $1,990 per ounce in Q4 2023 [20] Operational Performance - Gold equivalent production reached 116,358 ounces in Q4 and a record 455,958 ounces for the full year 2024, meeting the low end of annual guidance [8] - Consolidated cash cost per gold equivalent ounce was $1,015 in Q4, up from $840 in Q4 2023, primarily due to lower head grades [16] - The Séguéla mine produced 137,781 ounces in 2024, with plans to increase annual production to 160,000 to 180,000 ounces by 2026 [6][35] Growth and Development - The company invested $49.0 million in mineral exploration and project development in 2024, with a budget of $51.0 million for 2025 [8] - The sale of the non-core San Jose mine is expected to refocus capital and management's attention on higher-value opportunities [6] - Capital expenditures for sustaining and non-sustaining projects were reported, with a notable increase in non-sustaining expenditures due to exploration activities [10][38] Safety and Environmental Performance - The company maintained strong safety performance in 2024, achieving a Total Recordable Injury Frequency Rate (TRIFR) of 1.36 and a Lost Time Injury Frequency Rate (LTIFR) of 0.48, consistent with top industry standards [8]

Core Points - A fatal accident occurred at Fortuna Mining Corp.'s Séguéla Mine involving an employee of Mapa Protection Incendie during a planned fire extinguisher refilling [1] - The incident resulted in the death of the employee, with no other injuries reported [1] - An investigation is underway to determine the cause of the accident, and senior corporate leadership is mobilizing to the site [1] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company operating five mines in Argentina, Burkina Faso, Côte d'Ivoire, Mexico, and Peru, along with a gold project in Senegal [2] - The company emphasizes sustainability in its operations, focusing on efficient production, environmental protection, and social responsibility [2]

VANCOUVER, British Columbia, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) regrets to report that a fatal accident occurred yesterday at the Séguéla Mine. The tragic incident took place while an employee of Mapa Protection Incendie (MPI), a specialized service provider to the mine contractor Mota Engil, was conducting a planned refilling of fire extinguishers. The accident took place at the contractor’s light vehicle maintenance workshop where an explosion took place while ha ...

Group 1 - Fortuna Mining's stock closed at $4.46, reflecting a +0.9% change, outperforming the S&P 500's 0.5% loss on the same day [1] - Over the past month, Fortuna Mining's shares have decreased by 1.12%, while the Basic Materials sector gained 0.72% [1] - The upcoming earnings report is scheduled for March 5, 2025, with projected EPS of $0.16, indicating a 128.57% increase year-over-year [2] Group 2 - Recent changes in analyst estimates for Fortuna Mining are crucial as they indicate the company's business trends and profit potential [3] - The Zacks Rank system, which evaluates stocks from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Fortuna Mining at 2 (Buy) [5] - The Zacks Consensus EPS estimate for Fortuna Mining has increased by 1.59% in the past month [5] Group 3 - Fortuna Mining has a Forward P/E ratio of 6.91, which is lower than the industry average of 12.03, indicating a valuation discount [6] - The Mining - Miscellaneous industry, to which Fortuna Mining belongs, ranks in the bottom 28% of over 250 industries according to the Zacks Industry Rank [6][7]

Group 1 - Fortuna Mining (FSM) closed at $5.38, with a daily increase of +0.37%, underperforming the S&P 500's gain of 1.04% [1] - The stock has increased by 19.91% over the past month, outperforming the Basic Materials sector's gain of 7.68% and the S&P 500's gain of 3.92% [1] Group 2 - The upcoming EPS for Fortuna Mining is projected at $0.16, indicating a significant increase of 128.57% compared to the same quarter last year [2] Group 3 - Recent changes to analyst estimates for Fortuna Mining reflect positive sentiment regarding the company's business and profitability [3] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), indicates Fortuna Mining is currently rated 2 (Buy) [5] Group 4 - Fortuna Mining has a Forward P/E ratio of 8.38, which is lower than the industry average Forward P/E of 12.72, suggesting a valuation discount [6] - The Mining - Miscellaneous industry ranks in the bottom 32% of all industries, with a current Zacks Industry Rank of 172 [6]

Company Performance - Fortuna Mining (FSM) closed at $5.32, showing a +0.57% change from the previous session, outperforming the S&P 500 which gained 0.36% [1] - The stock has increased by 17.3% over the past month, surpassing the Basic Materials sector's gain of 7.62% and the S&P 500's gain of 2.11% [1] Earnings Forecast - The upcoming earnings per share (EPS) for Fortuna Mining is projected to be $0.16, indicating a significant increase of 128.57% from the same quarter last year [2] Analyst Revisions - Recent revisions to analyst forecasts for Fortuna Mining are crucial as they reflect the latest near-term business trends, with positive revisions indicating analysts' confidence in the company's performance [3] Zacks Rank and Valuation - Fortuna Mining currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate having increased by 12.5% in the past month [5] - The company is trading at a Forward P/E ratio of 8.4, which is a discount compared to the industry's average Forward P/E of 12.54 [5] Industry Context - Fortuna Mining operates within the Mining - Miscellaneous industry, which is part of the Basic Materials sector, currently ranked 148 in the Zacks Industry Rank, placing it in the bottom 42% of over 250 industries [6]

Company Performance - Fortuna Mining (FSM) closed at $5.07, marking a +0.4% move from the prior day, outperforming the S&P 500 which registered a daily loss of 0.51% [1] - Over the past month, shares of Fortuna Mining have appreciated by 10.26%, outperforming the Basic Materials sector's gain of 4.34% and the S&P 500's gain of 2.87% [1] Earnings Projection - Fortuna Mining is projected to report earnings of $0.16 per share, representing year-over-year growth of 128.57% [2] Analyst Estimates - Recent changes to analyst estimates for Fortuna Mining reflect evolving short-term business trends, with positive alterations indicating analyst optimism regarding the company's business and profitability [3] Zacks Rank and Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), indicates Fortuna Mining is currently a Zacks Rank 2 (Buy) [5] - The Zacks Consensus EPS estimate has moved 12.5% higher over the last 30 days [5] - Fortuna Mining has a Forward P/E ratio of 8.02, which is a discount compared to the average Forward P/E of 11.26 for its industry [6] Industry Context - The Mining - Miscellaneous industry, part of the Basic Materials sector, currently has a Zacks Industry Rank of 140, ranking in the bottom 45% of over 250 industries [6][7]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Fortuna Mining (FSM) currently holding a Momentum Style Score of B [2] - The Zacks Rank system, which complements Style Scores, indicates that stocks rated 1 (Strong Buy) and 2 (Buy) with Style Scores of A or B tend to outperform the market [3] Group 2: Fortuna Mining Performance - FSM shares have increased by 5.18% over the past week, outperforming the Zacks Mining - Miscellaneous industry, which rose by 0.26% [5] - Over a longer timeframe, FSM's monthly price change is 10.26%, significantly higher than the industry's 0.79% [5] - In the past quarter, FSM shares rose by 5.43%, and over the last year, they gained 58.31%, while the S&P 500 increased by only 4.7% and 24.79%, respectively [6] Group 3: Trading Volume and Earnings Outlook - FSM's average 20-day trading volume is 10,321,865 shares, indicating a bullish sign when combined with rising stock prices [7] - Recent earnings estimate revisions show one upward revision for the full year, increasing the consensus estimate from $0.48 to $0.53 [9] - For the next fiscal year, one estimate has moved upwards with no downward revisions, indicating positive earnings outlook [9] Group 4: Conclusion - Considering the performance metrics and earnings outlook, FSM is rated as a 2 (Buy) stock with a Momentum Score of B, making it a promising near-term investment option [11]

Core Insights - Fortuna Mining Corp. reported a 14.5% decrease in gold equivalent ounces production in Q4 2024 compared to the same quarter last year, totaling 116,358 ounces, with gold production at 95,993 ounces and silver production at 843,611 ounces [1] - For the full year 2024, gold equivalent ounces production increased by 0.8% year over year to 455,958 ounces, while gold output fell by 10.6% and silver production decreased by 38% in Q4 [1][2] Production Performance - The Séguéla mine in Côte d'Ivoire produced 35,244 ounces of gold in Q4 2024, slightly up from 34,998 ounces in Q3 2024, with a total of 137,781 ounces for the year [3] - The Yaramoko Mine in Burkina Faso produced 29,576 ounces of gold in Q4 2024, a 5.6% increase sequentially, with annual production at 116,206 ounces [4] - The Lindero mine in Argentina reported Q4 gold production of 26,806 ounces, up 10.1% quarter over quarter, with total production for 2024 at 97,287 ounces [4] - The San Jose mine in Mexico produced 594,373 ounces of silver and 4,239 ounces of gold in Q4 2024, with annual silver production around 2.5 million ounces and gold production at 17,811 ounces, both below expectations [5] - The Caylloma mine in Peru produced 249,238 ounces of silver in 2024, exceeding guidance, while zinc and lead production were 39.5 million pounds and 59.1 million pounds, respectively [6] Future Guidance - Fortuna Mining expects lower production in 2025 due to the anticipated sale of the San Jose Mine, with gold production guidance set at 334,000-373,000 ounces and silver production guidance at 0.9-1 million ounces [7] Stock Performance - Fortuna Mining's shares have increased by 39.6% over the past year, contrasting with a 7.8% decline in the industry [8]

Core Viewpoint - Fortuna Mining Corp. reported record production results for 2024, achieving 369,637 ounces of gold and 3,724,945 ounces of silver, totaling 455,958 gold equivalent ounces, driven by strong performance across its five operating mines in Latin America and West Africa [1]. Full Year 2024 Highlights - Total gold production reached 369,637 ounces, a 13% increase from 326,638 ounces in 2023, achieving the midpoint of guidance [6]. - Silver production was 3.7 million ounces, down from 5.9 million ounces in 2023, falling below guidance [6]. - By-product production included 39.6 million pounds of lead and 51.9 million pounds of zinc [6]. - The Total Recordable Injury Frequency Rate (TRIFR) was 1.36, compared to 1.22 in 2023, indicating a slight increase in safety incidents [6]. Fourth Quarter 2024 Highlights - Gold production for Q4 2024 was 95,993 ounces, a 5% increase from 91,251 ounces in Q3 2024 [6]. - Silver production in Q4 was 843,611 ounces, up from 816,187 ounces in Q3 2024 [6]. - The Séguéla Mine achieved gold production of 35,244 ounces, while the Yaramoko Mine produced 29,576 ounces, both meeting the top end of their respective guidance [7][10]. 2025 Consolidated Production and Cost Guidance - Projected gold equivalent production for 2025 is between 380,000 and 422,000 ounces, representing a decrease of 17% to 7% compared to 2024 [6]. - Cash costs are expected to range from $895 to $1,015 per ounce of gold equivalent, with AISC projected between $1,550 and $1,680 per ounce [6]. - The company anticipates a decrease in capital expenditures at Lindero and Yaramoko mines by approximately 67% and 60%, respectively [30]. Mine-Specific Performance Séguéla Mine, Côte d'Ivoire - Achieved gold production of 137,781 ounces for FY 2024, exceeding guidance [7]. - The mine's average gold grade was 2.95 g/t, with a recovery rate of 91.7% [7]. Yaramoko Mine, Burkina Faso - Produced 116,206 ounces of gold in FY 2024, achieving the top end of guidance [10]. - The average gold grade for Q4 was 9.18 g/t, a 37% increase compared to Q3 2024 [12]. Lindero Mine, Argentina - Gold production for FY 2024 was 97,287 ounces, in line with guidance [15]. - The leach pad expansion project was completed on time and on budget, contributing to a 10% increase in production compared to the previous quarter [17]. San Jose Mine, Mexico - Produced 4,239 ounces of gold and 594,373 ounces of silver in Q4 2024, with production impacted by the mine operating at the tail end of reserves [22][23]. - The company announced the sale of the non-core San Jose Mine, expected to be completed in Q1 2025 [22]. Caylloma Mine, Peru - Exceeded annual production guidance for all metals, producing 1,176,543 ounces of silver and 39.6 million pounds of lead [26][27]. - AISC for 2024 is expected to be towards the high end of the guidance range due to higher silver prices [28]. Exploration and Development Outlook - The total mineral exploration budget for 2025 is set at $41 million, with a focus on both Brownfields and Greenfields initiatives [54]. - Significant investments are planned for the Séguéla Mine, including $13.5 million for exploration drilling [55].