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Yahoo
6 days ago
- Business
- Yahoo
Are You Looking for a Top Momentum Pick? Why Fortuna Mining (FSM) is a Great Choice
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at Fortuna Mining (FSM), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Fortuna Mining currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. You can see the current list of Zacks #1 Rank Stocks here >>> In order to see if FSM is a promising momentum pick, let's examine some Momentum Style elements to see if this silver and gold miner holds up. Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area. For FSM, shares are up 0.17% over the past week while the Zacks Mining - Miscellaneous industry is down 0.6% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 38.06% compares favorably with the industry's 8.33% performance as well. While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Fortuna Mining have increased 36.53% over the past quarter, and have gained 39.89% in the last year. In comparison, the S&P 500 has only moved 1.99% and 12.34%, respectively. Investors should also pay attention to FSM's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. FSM is currently averaging 18,243,878 shares for the last 20 days. The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with FSM. Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost FSM's consensus estimate, increasing from $0.63 to $0.70 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period. Taking into account all of these elements, it should come as no surprise that FSM is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Fortuna Mining on your short list. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fortuna Mining Corp. (FSM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
Are You Looking for a Top Momentum Pick? Why SSR Mining (SSRM) is a Great Choice
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us. Below, we take a look at SSR Mining (SSRM), which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions. It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. SSR Mining currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period. You can see the current list of Zacks #1 Rank Stocks here >>> Let's discuss some of the components of the Momentum Style Score for SSRM that show why this precious metals mining company shows promise as a solid momentum pick. A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area. For SSRM, shares are up 7.26% over the past week while the Zacks Mining - Miscellaneous industry is up 3.66% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 9.25% compares favorably with the industry's 1.69% performance as well. While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of SSR Mining have risen 17.42%, and are up 113.81% in the last year. In comparison, the S&P 500 has only moved 1.35% and 13.07%, respectively. Investors should also pay attention to SSRM's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. SSRM is currently averaging 2,125,763 shares for the last 20 days. The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with SSRM. Over the past two months, 1 earnings estimate moved higher compared to 3 lower for the full year. These revisions helped boost SSRM's consensus estimate, increasing from $0.95 to $1.09 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been no downward revisions in the same time period. Given these factors, it shouldn't be surprising that SSRM is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep SSR Mining on your short list. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
01-05-2025
- Business
- Yahoo
3 Gold Mining Stocks Poised to Outshine Q1 Earnings Estimates
The Zacks Mining – Gold industry is housed within the broader Zacks Basic Materials sector. The Q1 earnings picture for this sector looks glum. Basic Materials is among the Zacks sectors that are expected to see the biggest decline in earnings in the first quarter. Overall earnings for the space are projected to fall 17.8% on 0.7% lower revenues, per the latest Earnings Preview. Gold mining companies' first-quarter results are expected to reflect the benefits of higher gold prices and efforts to boost operating efficiency and reduce costs. We have handpicked a few gold miners, Kinross Gold Corporation KGC, Sandstorm Gold Ltd. SAND and IAMGOLD Corporation IAG, which are set to beat earnings estimates this earnings season. Gold prices are shooting up this year as worries over the global trade war have boosted the safe-haven demand for bullion. Prices of the yellow metal have zoomed roughly 27% year to date, largely attributable to aggressive trade policies, including sweeping new import tariffs announced by President Donald Trump, which have intensified global trade tensions and heightened investor anxiety. Also, central banks worldwide have been accumulating gold reserves, led by risks arising from Trump's policies. Gold prices catapulted to a record high of $3,500 per ounce on April 22 as the U.S. dollar tumbled amid President Trump's criticism of Federal Reserve Chair Jerome Powell and call for an immediate reduction in interest rates. Gold prices climbed nearly 19% in the first quarter. Higher prices are expected to have supported the performance of gold miners in the first quarter. On the flip side, higher mining costs, triggered by inflationary pressure on all aspects of input costs, particularly labor, fuel and electricity, are likely to have been a drag. Nevertheless, miners remain committed to whittling down operational costs and capital spending, improving operating efficiency within existing mines, paying down debt, eliminating non-core assets and concentrating on their highest ore-grade assets. Some of these companies have also taken steps to bring down their all-in sustaining costs — the most important cost metric of miners. These actions are expected to support their margins in Q1. Given the large number of players operating in the gold mining space, picking the right stocks is apparently not an easy task. But our proprietary methodology makes it fairly simple. One can trim the list with the combination of a favorable Zacks Rank — Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — and a positive Zacks Earnings ESP. You can uncover the best stocks to buy or sell before they report with our Earnings ESP ESP — the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate — is our proprietary methodology for determining stocks that have high chances of delivering earnings surprises in their next announcements. Our research shows that for stocks with this combination, the chance of a positive earnings surprise is as much as 70%. Below we list three gold mining stocks that have the right combination of elements to pull off positive surprises this earnings season:Kinross Gold has an Earnings ESP of +11.07% and a Zacks Rank #2. It is slated to report on May 6. Kinross surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. It delivered a trailing four-quarter earnings surprise of around 23.7%, on average. The Zacks Consensus Estimate for first-quarter earnings stands at 22 cents. KGC is expected to have gained from higher average realized gold prices. Tasiast and Paracatu mines are expected to have continued their strong production performance, driving overall production, partly masked by higher production costs. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Kinross Gold Corporation price-eps-surprise | Kinross Gold Corporation Quote Sandstorm Gold has an Earnings ESP of +6.67% and carries a Zacks Rank #2. The company is scheduled to report on May 6. You can see the complete list of today's Zacks #1 Rank stocks Gold missed the Zacks Consensus Estimate in three of the trailing four quarters while beat once. It delivered a trailing four-quarter negative earnings surprise of around 65.8%, on average. The Zacks Consensus Estimate for SAND's first-quarter earnings is pegged at 5 cents. SAND is expected to have benefited from strong sales and operating margins in the first quarter. Higher selling prices of gold are also likely to have aided Sandstorm Gold's results in the quarter. These are expected to have been partly offset by a higher cost of sales. Sandstorm Gold Ltd price-eps-surprise | Sandstorm Gold Ltd Quote IAMGOLD has an Earnings ESP of +9.69% and a Zacks Rank #3. It is slated to report on May 6. IAMGOLD beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once. It delivered a trailing four-quarter earnings surprise of around 147.6%, on average. The Zacks Consensus Estimate for first-quarter earnings stands at 10 cents. The company is expected to have benefited from strong production volumes and prices in the first quarter. The ramp-up at Cote Gold and continued strong performance at Essakane and Westwood are likely to have aided production. This is likely to have been partly offset by higher costs. Iamgold Corporation price-eps-surprise | Iamgold Corporation Quote Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kinross Gold Corporation (KGC) : Free Stock Analysis Report Iamgold Corporation (IAG) : Free Stock Analysis Report Sandstorm Gold Ltd (SAND) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
