Fortuna Mining generated $85.7M in Q2 free cash flow as costs peaked. The gold miner eyes a 60% production increase to 500,000 ounces after advancing Diamba Sud and Séguéla expansion.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Fortuna Mining Corp. (FSM) generated $85.7 million in free cash flow from ongoing operations during the second quarter, the company said Wednesday, as it positioned for a production ramp to over 500,000 ounces a year.
Adjusted EBITDA reached $200.8 million, with a 63% margin. The Vancouver-based gold miner said the second quarter should mark its peak all-in sustaining cost for the year, with costs expected to decline in the second half after it finishes key capital projects at its Lindero mine in Argentina.
"The second quarter is expected to be our peak AISC for the year and trend down in the second half with the completion of key capital projects at Lindero," President and CEO Jorge Ganoza said in a statement.
He flagged cost pressures from royalties linked to gold prices, fuel costs, inflation and macroeconomic conditions in Argentina, and said the company is monitoring the potential impact to its cost guidance.
Fortuna also announced a construction decision for the Séguéla Plant Expansion and delivered a feasibility study for its Diamba Sud project. Combined, the two organic growth projects would lift production by 60% to more than 500,000 ounces a year, Ganoza said.
The company returned $82.1 million to shareholders through share buy-backs during the quarter, while funding its growth projects and keeping a strong balance sheet.
Fortuna's San Jose and Yaramoko assets were excluded from year-ago comparisons because they were sold during the second quarter of 2025.
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