Earnings season is in full swing, with companies reporting their Q2 results left, right and center. Today was
Summing up Q2,
That said, Fortuna’s production numbers are also impressive. The company put out 1,630,422 ounces of silver and 8,519 ounces of gold; respectively, those are increases of 52 and 64 percent from Q2 2013. The numbers mean Fortuna is “in a position to exceed [its] annual guidance of 6 million ounces of silver and 32,000 ounces of gold,” Ganoza said today.
Even more positive is the fact that the company’s all-in sustaining cash cost per ounce of payable silver, net of by-product credits, fell to
Though Fortuna’s Q2 results are certainly solid, investors have reacted somewhat tepidly — the company’s share price hit a high of
Seeking Alpha contributor
While that has “offer[ed] investors an opportunity to take profits,” Kramer-Miller believes prospects don’t look good moving forward. “I think there are better silver opportunities out there that are flying under the radar,” he said.
Others, however, are much more positive about Fortuna. In a Gold Report interview published today,
He added that one of those mines, San Jose, “has had tremendous exploration success through the discovery of a new high-grade zone,” which for Fortuna “is a tremendous opportunity for organic production growth and cash-flow growth.”
Fortunately for the company, most analysts seem to agree with Thompson. Statistics from Analyst Ratings Network show that while two firms have a “sell” rating on Fortuna, five rate it a “hold” and four rate it a “buy.” The company has a consensus price target of
Securities Disclosure: I,
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OCTOBER 31, 2014
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