Section 1: Company Fundamentals

1.1 Company Overview and Performance summary

Company Overview:

Fortuna Mining Corp., (NYSE: FSM) formerly Fortuna Silver Mines Inc., is a Canada-based precious metals mining company with mines in the Latin America and West Africa regions. It has operated mines in Argentina, Burkina Faso, Cote d’Ivoire, Mexico, and Peru. FSM’s mine products include gold, silver, lead, and zinc. Its mines and projects include Seguela Mine, Yaramoko Mine, Lindero Mine, San Jose Mine, and Caylloma Mine.

This US Inflation Report covers the Company Overview & Price performance, Summary table, Key positives & negatives, Key metrics, Company details, technical guidance & Stock recommendation, and Price chart.

Price Performance:

• FSM's share price has reached 9.46% in the past three months. On the other hand, in the long term, stock has recovered by 73.57% over the past year.
• The stock is currently trading near to the higher end of its 52-week range of USD 6.36 and 52-week low price of USD 2.63, with the expectations of an upside movement if the USD 4.50 support level holds.
• The price is currently above both its short-term (50-day) SMA and long-term (200-day) SMA, with the current RSI of around 51.53.

1.2 Summary Table

1.3 The Key Positives & Negatives

1. 4 Underlying Commodities Analysis:

Gold prices exceeded USD2,640 per ounce on Friday, building on gains from the previous session as traders continued to evaluate the Federal Reserve's policy trajectory considering mixed economic indicators. U.S. headline inflation slowed more than anticipated in September, while core inflation increased beyond expectations, impeding recent advancements in alleviating price pressures. This situation has strengthened the perception that the Federal Reserve will implement reductions in borrowing costs at a more gradual pace than previously anticipated, as reflected in the latest FOMC minutes released on Wednesday. Furthermore, a notable rise in jobless claims has raised questions about the resilience of the U.S. labor market amidst restrictive interest rates. Currently, the likelihood of a 25-basis point decrease in the federal funds rate in November stands at 86%. Investors are now looking forward to producer inflation data later today for additional insights into price trends. Over the week, gold is on track to experience its second consecutive weekly decline.

Section 2: Fortuna Mining Corp., (NYSE: FSM) (“Buy” at the current market price of USD 4.76, as of October 11, 2024, at 06:40 am PDT)

2.1 Company Details

2.2 Technical Guidance and Stock Recommendation  

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is October 11, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

 Resistance: A level at which the stocks prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

 Stop-loss: It is a level to protect against further losses in case of unfavorable movement in the stock prices.