Fortuna Mining Corp. (FSM)
Materials · NYQ
Price as at 1 Oct 2026, 21:29 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Fortuna Mining Corp. trades at $11.17, which is 61% below the $17.95 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 78 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 7.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
FSM earnings and analyst estimates
Recommendation mix, 4 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Fortuna Mining Corp.
Fortuna Mining Corp. engages in the precious and base metal mining and related activities in Argentina, Côte d'Ivoire, Mexico, Peru, and Senegal. The company operates through Mansfield, Sango, and Bateas segments. It operates the Lindero gold mine and the Séguéla gold mine, as well as the Caylloma silver, lead, and zinc mine. The company also holds Bambadji advanced gold exploration project located in Senegal. The company was formerly known as Fortuna Silver Mines Inc. and changed its name to Fortuna Mining Corp. in June 2024. Fortuna Mining Corp. was incorporated in 1990 and is based in Vancouver, Canada.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
FSM passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- D. E. Shaw, D. E. Shaw & Co., Inc.$67.40M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$55.44M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$44.29M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$28.19M · 0.0% of book
- Steve Cohen, Point72 Asset Management, L.P.$25.19M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
FSM peers
The largest companies in the same industry (Gold), then in the same sector.
- AU AngloGold Ashanti plc
- FNV Franco-Nevada Corporation
- GFI.JO Gold Fields Limited
- PAAS.TO Pan American Silver Corp.
- RGLD Royal Gold, Inc.
- AGI.TO Alamos Gold Inc.
- HMY Harmony Gold Mining Company Limited
- EGO Eldorado Gold Corporation
Every materials company we cover is on the Materials hub.
Common questions
Is Fortuna Mining Corp. (FSM) undervalued?
Against our fair value estimate of $17.95, FSM at $11.17 is 61% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own FSM?
12 of the institutions we track reported a position in FSM in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FSM's P/E ratio?
FSM trades at 7.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Where does SteadyShares get its FSM data?
Fundamentals for FSM come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 21:29 UTC and is delayed. Our data quality score for this company is 96/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for FSM, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.