Fortuna Mining Corp. said third-quarter sales rose 17% year over year to $293.4 million, as higher realized gold prices supported revenue despite lower gold-equivalent output from continuing operations.
The sales figure was below the $318.4 million reported for the second quarter, but above the $251.4 million recorded a year earlier. Fortuna attributed the annual increase to gold pricing: its realized gold price was $4,281 per ounce, compared with $3,467 in the year-earlier quarter. Production from continuing operations declined 4% to 69,665 gold-equivalent ounces, according to the company’s Nov. 4 results release.
On an adjusted basis, attributable income from continuing operations was $51.2 million, or $0.17 per share, little changed from a year earlier. The adjusted measure excludes nonrecurring items and impairments, the release said. Basic attributable net income from continuing operations fell 61% to $47.8 million from $123.6 million. Basic earnings per share was $0.16, down from $0.40.
Free cash flow reached $90.8 million, up from $73.4 million a year earlier; Fortuna attributed most of the increase to reduced sustaining capital expenditures. The quarter therefore showed different movements across the company’s reported measures: sales and free cash flow rose year over year, while production and basic earnings declined.
The 2025 comparison omits San Jose and Yaramoko, which were disposed of during Q2 2025. Management maintained its full-year production outlook and forecast higher output in Q4.
