Fortitude Gold Corporation

FTCO

Gold · Basic Materials

Price

$4.83

-0.05 (-1.02%)

Market Cap

$131.3M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Dividends

Mixed

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Share count rising — dilution

+2.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 24.0M (2021) → 24.6M (2025)

Winston Score History

The full picture

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.

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

+68.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-40.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

3.8%ownership

Relatively low insider ownership

Cash Runway

~10 months

$17M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Fortitude Gold Corporation grew revenue 68% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

1.5%

Thin — 1.5% gross margin

Profit after running costs

Operating Margin

-13.3%

Losing money on operations — -13.3%

Return on the money invested

ROCE

-3.5%

Weak — -3.5% return on capital

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

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Growth

Sales growth

Sales YoY

-40.7%

Shrinking sales (-40.7% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-99.7%

Burning cash (-99.7%)

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

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Stability

What it owes vs what it owns

Debt / Equity

0.13

Conservative — low debt load (0.13)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.51%

Moderate income — 2.51% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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