Fortuna Mining Corp. completed a $17 million share repurchase, buying back 1.7 million common shares at a weighted‑average price of $10.01 per share. The repurchases were executed under the company’s normal‑course issuer bid and were fully cancelled, permanently reducing the equity base. The buyback was announced on January 8 2026, after a series of repurchases that began on December 23 2025 and concluded on January 7 2026, representing roughly 11 % of the 5 % authorization granted under the company’s NCIB renewal on April 30 2025.
The repurchase is expected to lift earnings per share. Fortuna’s most recent quarterly earnings report showed an EPS of $0.15 in Q3 2025, up from $0.11 in Q4 2024, while analysts had projected $0.26 for the upcoming Q4 2025. By reducing the share count, the company will see a proportional increase in EPS, reinforcing its profitability trajectory. The company’s adjusted EBITDA margin expanded to 52 % in Q3 2025 from 45.6 % in Q4 2024, driven by higher gold production and disciplined cost management.
Fortuna’s capital allocation strategy prioritizes strengthening its balance sheet, investing in high‑margin projects, and opportunistic acquisitions. The company is advancing the Diamba Sud gold project in Senegal, where a preliminary economic assessment projects an after‑tax IRR of 72 % and an NPV5 % of $553 million at a gold price of $2,750 per ounce. In Côte d’Ivoire, a feasibility study is underway to expand the processing plant at the Séguéla mine, aiming to support long‑term production growth. The share buyback signals confidence in the company’s cash‑flow generation and its ability to fund these growth initiatives.
CEO Jorge Ganoza said, “With the growth in cash flow over the year and a sound balance sheet we returned $30.6 million to shareholders via share buybacks in Q4.” The statement underscores the company’s disciplined approach to capital deployment and its focus on delivering value to shareholders while maintaining a robust liquidity position of $588.3 million and net cash of $265.8 million as of Q3 2025.
Investors and analysts welcomed the buyback, citing Fortuna’s strong liquidity, expanding high‑margin projects, and disciplined cost control. The announcement reinforced confidence in the company’s ability to generate cash and fund future growth, aligning with its broader capital allocation framework.
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