Fortuna Mining Corp

Fortuna Mining Corp (NYSE: FSM) headquartered in Canada, is a precious metals producer with active mining operations and exploration projects across several countries, including Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru. Additionally, the company is developing the Diamba Sud Gold Project in Senegal. Fortuna's portfolio includes the production of gold, silver, lead, and zinc, with key assets such as the Séguéla, Yaramoko, Lindero, and Caylloma mines.

As per our previous US Daily Report published on ‘FSM’ on April 22, 2025, Kalkine provided a ‘Speculative Buy’ stance on the stock at USD 6.33 based on “price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis” and the stock price has now moved up by ~9.32% since then and has attained resistance 1 as well as resistance 2 but has corrected from USD 7.50 levels.

Noted below are the details of support and resistance levels provided in our previous report:

Daily Chart

Considering a volatile market condition led by recent tariffs escalation from United States and subsequent retaliation, resistance 1 and resistance 2 attainment, recession fear, higher interest rate and geopolitical disruption a ‘Sell’ rating is assigned to the ‘FSM’ at the current market price of USD 6.92 as of June 10, 2025, at 08:20 am PDT.

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

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 level is June 10, 2025. 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: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.