New York, Feb 23, 2026, 08:26 (EST) — Premarket
- Fortuna Mining shares are up again before the U.S. open, building on last week’s big move.
- Gold and silver prices are climbing, giving precious-metals miners a boost in sentiment.
- Traders eye Fed cues, bullion’s moves, and Fortuna’s maintenance plan set for late March.
Shares of Fortuna Mining Corp climbed roughly 1.5% to $12.43 ahead of Monday’s session, after notching a 12.3% gain on Friday. (MarketBeat)
Gold hit a three-week peak after the U.S. Supreme Court tossed out President Donald Trump’s major tariffs, sending the dollar down and boosting appetite for safe-haven bets. “Concerns or confusion” about what comes next on tariffs gave gold and silver a lift, according to independent analyst Ross Norman. (Reuters)
With Fortuna, the stock tends to track metals closely. Macro headlines nudging bullion typically spark outsized action in the miners—particularly right at the open, when liquidity runs thin and moves can exaggerate fast.
Traders have rate bets in play. Federal Reserve Governor Christopher Waller signaled he’s open to keeping rates unchanged at the Fed’s March meeting—as long as February’s job numbers, out March 6, hold up after January’s robust showing. The policy decision lands March 17-18. (Reuters)
Fortuna turned in record quarterly free cash flow from ongoing operations last week, bringing in $132.3 million. Liquidity climbed to $704 million, net cash now at $381.5 million. President and CEO Jorge A. Ganoza called Q4 “a strong end to the year,” but flagged a jump in all-in sustaining costs. That increase, he said, came in part because higher metal prices push up royalties and similar charges. (GlobeNewswire)
The company, in another filing, reported a 73% jump in indicated resources at its Diamba Sud project in Senegal, now sitting at 1.25 million ounces of gold. A feasibility study is in the works, targeted for completion by end of the second quarter. “This update provides a strong foundation for the feasibility study we plan to publish by mid-year 2026,” Ganoza said. The filing also flagged that Senegal’s government will receive a 10% free-carried stake once an exploitation permit is in place. (SEC)
Executives pointed to issues at Lindero in Argentina, where mechanical problems in the crushing circuit dragged down fourth-quarter production. Chief Operating Officer Cesar Velasco noted that a 35-day foundation replacement is set to start in late March, with the projected cost coming in at $2.2 million. (Fortuna Mining Corp. |)
Other names in the space were on the front foot as well. Hecla Mining and Coeur Mining climbed in U.S. premarket action, lifted by stronger silver prices, according to Investing.com. (Investing)
The setup isn’t one-way traffic. Should the dollar hold its ground or tariff noise fade, safe-haven flows can vanish just as fast, and miners tend to exaggerate moves in either direction. Risks tied to getting permits and executing at Diamba Sud, plus the late-March Lindero maintenance, weigh on the downside.
Traders are eyeing gold to see if it keeps its momentum when cash markets open. Focus on Fed speakers this week could move expectations before the March 6 payrolls. Over at Fortuna, the late-March repair window for Lindero is on the radar, along with updates on the Diamba Sud feasibility study, which is still set for completion by the end of Q2.
