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/Mis Actual Consensu

s s

Estimate

Q3 Sales Beat $251.40 $228.50

mln mln (2

Analysts

)

Q3 $51 mln

Adjusted

Net

Income

Q3 Net $52.70

Income 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 ( FSM ) 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:

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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.)