10 Best Affordable Stocks Under $5 to Buy Now

4. Fortuna Mining Corp. (NYSE:FSM)

Number of Hedge Fund Holdings: 18

Forward P/E Ratio as of January 24: 5.17

Earnings Growth This Year: 45.45%

Stock Price as of January 24: $4.46

Fortuna Mining Corp. (NYSE:FSM) is a Canada-based mining company focused on the production of silver, gold, and other precious metals. The company operates mines in West Africa, and Argentina and is actively advancing exploration projects in Senegal.

Fortuna Mining Corp. (NYSE:FSM) is making substantial investments in capital projects to enhance the long-term productivity and profitability of its operations. Among its key initiatives is the leach pad expansion at the Lindero mine in Argentina, a project with a budget of $42 million. This expansion is expected to be completed by early 2025 and is poised to considerably increase the mine’s capacity and extend its operational life by an additional decade. Similarly, the company is accelerating underground development at the Yaramoko mine in Burkina Faso, where an additional $11 million has been allocated to integrate newly identified mineralized zones into the mine plan for 2025.

In addition to its current operational upgrades, Fortuna Mining Corp. (NYSE:FSM) is actively pursuing high-value exploration opportunities to bolster its resource base and uncover new mining prospects. Key focus areas include the Seguela mine in Côte d’Ivoire, the Diamba Sud Project in Senegal, and continued exploration at the Lindero mine in Argentina. These efforts are critical for expanding the company’s gold reserves and discovering new deposits.