Fortuna Mining (FSM) Rallies 21.88% on Higher Silver Prices

We recently published a list of 15 Stocks That Stole The Show Last Week. In this article, we are going to take a look at where Fortuna Mining Corp. (NYSE:FSM) stands against other best stocks that stole the show last week.

Fortuna Mining increased by 21.88 percent week-on-week as investors snapped up shares in the company following silver prices’ surge to a new all-time high.

Last Thursday, silver futures rose as high as $36.27 per troy ounce, notching its highest price so far since 2012 as investors sought refuge in precious metals amid the ongoing trade tensions globally.

The higher prices spilled over into mining stocks such as Fortuna Mining Corp. (NYSE:FSM), which heavily focuses on silver production.

Aerial view of miners extracting precious metal deposits in a quarry.

In the first quarter of the year, Fortuna Mining Corp. (NYSE:FSM) grew its net income from continuing operations by 130 percent to $67.97 million from $29.5 million in the same period last year.

Sales rose by 45 percent to $290 million from $200.9 million year-on-year.

Fortuna Mining Corp. (NYSE:FSM) is expected to hold an annual shareholders’ meeting at 10 AM PDT on June 26 in Vancouver, Canada.

Overall, FSM ranks 11th on our list of best stocks that stole the show last week. While we acknowledge the potential of FSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.