A Gold Mining Stock to Watch as the Metal Soars

Industry Overview - The gold mining industry is currently experiencing a significant uptrend, with gold prices soaring to all-time highs, up 28% year to date, compared to a 10% increase in the S&P 500 [1][6] - Gold is traditionally viewed as a safe haven investment, often performing better when risk assets like stocks decline [2] - The recent increase in gold prices is attributed to geopolitical tensions, particularly following Russia's invasion of Ukraine and subsequent sanctions [3][4] Company Analysis: Fortuna Mining - Fortuna Mining has seen its stock rise 70% year to date and 155% over the past 18 months, making it one of the top gold mining stocks [7] - The company produced approximately 370,000 ounces of gold last year, a 13% increase from the previous year, with ongoing operations yielding about 62,000 ounces in the most recent quarter, a 10% increase year-over-year [8] - Fortuna's recent divestiture of the Yaramoko mine in Burkina Faso is viewed positively, as it had limited reserves and faced civil unrest [9] - The Diamba Sud mine in Senegal has an estimated 724,000 ounces of gold, which is 53% higher than last year's estimate, with an additional 285,000 ounces potentially unconfirmed [11] - Fortuna is recognized for its operational efficiency, strong organic growth, and disciplined management, making it a compelling option for investors looking to hedge against market corrections [13]