Fortitude Gold Corporation (FTCO) Stock Analysis & Winston Score

Fortitude Gold is a small gold mining company based in the United States. It mines gold from properties located in Nevada, which is one of the most productive gold-mining regions in the world. The company sells the gold it produces to refiners and dealers, making it dependent on the price of gold in global commodity markets.

Fortitude Gold earns revenue by selling physical gold extracted from its Nevada mines, so its income rises and falls directly with gold prices and how much ore it can pull from the ground. It is a small company with a market cap around $100 million, which makes it much smaller than major gold producers like Newmont or Barrick. The company currently operates at a loss, and its thin gross margin suggests high production costs relative to revenue, meaning the biggest risk it faces is a sustained drop in gold prices or unexpected increases in mining costs that could further pressure profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-75.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+34.7% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

3.8%ownership

Relatively low insider ownership

Cash Runway

~3 months

$5M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Fortitude Gold Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-135.8%

Thin — -135.8% gross margin

Operating Margin

-67.8%

Losing money on operations — -67.8%

ROCE

-1.5%

Weak — -1.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-50.7%

Shrinking sales (-50.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

-3099%

Weak — only -3099% of profit becomes cash

FCF Margin

-81.3%

Burning cash (-81.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

—

Data not available

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Valuation

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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