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Fortuna Mining (TSX:FVI) shares edged slightly lower after the company reported a modest annual revenue dip, while net income saw a significant jump. Investors are considering how improved profitability might impact the stock’s valuation moving forward.

See our latest analysis for Fortuna Mining.

Fortuna Mining’s run this year has been impressive, with a year-to-date share price return of 73.44 percent and a 1-year total shareholder return of 61.90 percent. This demonstrates clear momentum, even after a short-term pullback. That kind of performance stands out, especially as investors consider recent earnings gains and the company’s improved profitability in the context of broader market trends.

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With strong gains this year and analyst targets still above the current share price, some investors are questioning whether Fortuna Mining remains undervalued or if the market has already factored in future growth potential. Is this a real buying opportunity?

Fortuna Mining’s fair value, according to the most widely followed analyst narrative, comes in at CA$13.65 per share. This is well above the latest close at CA$11.43. This significant gap is catching the attention of investors looking for undervalued opportunities based on strong growth catalysts outlined below.

Expansion projects and exploration in West Africa and Latin America position Fortuna to boost production, access new revenue streams, and support long-term growth. Operational efficiencies, rising precious metals prices, and improved ESG performance collectively strengthen profitability, reduce risks, and enhance earnings stability.

Read the complete narrative.

Want to know why analysts think Fortuna Mining deserves a higher price? The real engine behind this narrative lies in aggressive profit growth and a transformative margin story, but the exact numbers will surprise you. Dig deeper to discover which financial assumptions are fueling this valuation gap.

Result: Fair Value of $13.65 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, future growth depends heavily on successful project execution and cost management. Any setbacks could potentially jeopardize margins or delay production gains.

Find out about the key risks to this Fortuna Mining narrative.

While analysts see Fortuna Mining as significantly undervalued based on future growth estimates, our SWS DCF model comes to a different conclusion. It puts fair value at CA$9.56 per share, which is below the current price. This may indicate possible overvaluation if cash flow assumptions prove too optimistic. Which view will ultimately be right?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Fortuna Mining for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you see things differently or want to dig into the numbers on your own, you can craft a personalized analysis in just a few minutes with Do it your way.

A great starting point for your Fortuna Mining research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include FVI.TO.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Venture Global (VG) shares have been on the move lately, catching the eye of investors curious about what is driving the change. The stock has dropped about 35% over the past month, drawing attention to recent shifts in sentiment.

See our latest analysis for Venture Global.

Looking beyond the past month’s 34.7% slide in share price, Venture Global’s momentum has been fading for most of 2024, with its year-to-date share price return down over 60%. While the latest moves may reflect shifting risk perceptions, it is part of a longer pattern where any short-term rallies have not built into sustained gains.

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With shares trailing well below their analyst price targets and annual revenue still showing solid growth, the question now is whether Venture Global is trading at a steep discount or if future prospects are already reflected in the market.

Venture Global is trading at a price-to-earnings (P/E) ratio of 17.9x. This places it at a premium compared to the industry average and its own fair ratio estimate. With a last close price of $9.49, investors are currently paying more for each dollar of earnings than is typical for similar U.S. oil and gas companies.

The price-to-earnings ratio captures how much the market is willing to pay for a company’s profits. It is a widely used tool for gauging whether a stock is trading at a reasonable level given its current and future earnings. For Venture Global, this elevated multiple suggests high expectations for profit growth, despite modest near-term earnings estimates and industry headwinds.

Compared to the U.S. oil and gas industry average P/E of 12.8x, Venture Global appears significantly more expensive. Its ratio also exceeds the estimated fair price-to-earnings level of 14.3x. This valuation gap signals the market may be overpricing future prospects, especially given the company’s current growth and profit profile.

Explore the SWS fair ratio for Venture Global

Result: Price-to-Earnings of 17.9x (OVERVALUED)

However, rising revenue growth could falter if industry conditions worsen or if profit improvements do not keep pace with expectations.

Find out about the key risks to this Venture Global narrative.

While the price-to-earnings ratio presents Venture Global as expensive compared to its peers, the SWS DCF model offers a different perspective. According to our DCF model, shares are trading approximately 31.6% below their estimated fair value of $13.88. Could the market be missing long-term fundamentals?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Venture Global for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

If you’d rather form your own view or want to dig deeper into Venture Global’s numbers, you can build your own data-driven story in just a few minutes. Use our tools to do it your way with Do it your way.

A great starting point for your Venture Global research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include VG.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Vertiv Holdings Co (NYSE:VRT) posted third-quarter earnings that outpaced expectations, prompting management to raise full-year guidance for both sales and earnings. The results highlight strong demand in digital infrastructure and AI-supported data centers.

See our latest analysis for Vertiv Holdings Co.

Vertiv’s momentum has been nothing short of remarkable. After topping expectations and lifting its forecast, shares have catapulted with a 31% gain in the past month alone, driving the 1-year total shareholder return to over 66%. With big data center contracts and fresh executive moves making headlines, investor enthusiasm continues to build as the company cements its leadership in AI-powered infrastructure.

If this surge in data center demand has you curious about new opportunities, it’s a great moment to discover See the full list for free.

Yet with shares already soaring and full-year guidance now higher, the big question for investors becomes this: Is Vertiv’s red-hot rally still leaving room for upside, or is the market already pricing in the next leg of growth?

Vertiv’s last close of $186.06 stands noticeably above the narrative’s fair value estimate of $173.11, revealing a premium in current market enthusiasm versus calculated future prospects.

Accelerating global demand for high-density, AI-driven data centers is driving robust growth in Vertiv’s sales pipeline and backlog. This is evidenced by recurring record order levels, backlog growth, and management’s raised organic sales growth guidance, which supports potentially higher future revenue.

Read the complete narrative.

Is this hot streak built to last? The most followed valuation hinges on a future profit windfall and a market-beating sales climb. But what exactly are the bold forecasts behind the scenes? Only the full narrative reveals the winning formula powering this price target.

Result: Fair Value of $173.11 (OVERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, persistent supply chain disruptions or a slowdown in AI data center build-outs could quickly test the strength of Vertiv’s growth outlook.

Find out about the key risks to this Vertiv Holdings Co narrative.

If you want to dive deeper or put your own spin on the story, you can build your own narrative from scratch in just a few minutes. Do it your way

A great starting point for your Vertiv Holdings Co research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

Don’t miss your chance to gain an edge. Simply Wall Street highlights investment opportunities others overlook so you can position your portfolio ahead of the curve.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include VRT.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

As TCT 2025 kicks off in San Francisco, key research from the conference will be simultaneously published across JACC Journals – including JACC, JACC: Cardiovascular Interventions, JACC: Case Reports, and JACC: Advances. The following are some highlights from the abstracts:

FIRE: Complete Revascularization Effective Across Spectrum of Kidney Function
Physiology-guided complete revascularization was effective regardless of renal function in patients with a myocardial infarction (MI) and multivessel disease, based on findings from a prespecified analysis of the multicenter, investigator-initiated FIRE trial. The 1,445 patients were 75 years and older and randomized to physiology-guided complete revascularization or culprit-only revascularization and stratified by estimated glomerular filtration rate (eGFR) <60 mL/min/1.73m2 (n=662) or ≥60 mL/min/1.73m2 (n=783). More patients in the eGFR <60 group, vs. >60, experienced a primary endpoint, a composite of death, MI, stroke and ischemia-driven revascularization at three years (34% vs. 20%). A lower eGFR was independently associated with a higher risk of the primary endpoint (adjusted hazard rate [HR], 1.42; p<0.001). Complete revascularization reduced the primary endpoint in both eGFR groups (HR, 0.68 and 0.80 respectively). “Despite the traditional hesitancy to pursue complete revascularization in [chronic kidney disease] patients due to concerns about procedural risk or contrast nephropathy, our data supports its use even in this high-risk group,” write study authors Anna Cantone, MD, et al. In an accompanying editorial comment, Hitinder S. Gurm, MD, FACC, and David E. Hamilton, MD, suggest that “the time has come to abandon therapeutic nihilism based on renal function alone.”

EMERGE LAA: Intracardiac vs. Transesophageal Echocardiography-Guided Closure
Results from the EMERGE LAA post approval study showed that the rates of procedural success and left atrial appendage (LAA) closure were high whether the Amulet includer implantation was guided by intracardiac echocardiography (ICE) or transesophageal echocardiography (TEE). In this analysis of 11,848 patients from ACC’s LAAO Registry who had an Amulet includer implanted between August 2021 and December 2023, the procedure was guided by ICE in 433 patients, TEE in 9,793 and both in 1,622. Procedural success was 95%, 96% and 96%, respectively (p=0.324). At 45 days, there was >95% at clinically relevant closure in all three groups and the rates across groups were similar for the safety composite endpoint and 45-day major adverse event composite outcome. Both the ICE and ICE+TEE arms had a longer procedural time (104.8 min and 98.8 min vs. 82 min with TEE), but study authors Mohamad Alkhouli, MD, FACC, et al., note this may reflect a learning curve because more experience with ICE led to “increased implant success, decreased procedural times and lower adverse events rates.”

TTVR Using EVOQUE Post T-TEER
In a case series of patients with residual severe tricuspid regurgitation (TR) after tricuspid transcatheter edge-to-edge repair (T-TEER), transcatheter tricuspid valve replacement (TTVR) was successful in 15 of the 16 patients. John T. Saxon, MD, FACC, et al., also reported that 15 were alive at 30 days, 13 improved to NYHA class I/II (p<0.001) and TR severity improved to none or mild in 93% (p<0.001). The median age of the patients was 75 years and 69% were women, and the median STS PROM was 8.3% and 81% were in NYHA class III/IV heart failure. Of note, eight of the patients also underwent electrosurgical leaflet modification with a novel technique (clip liberalization to facilitate TTVR [CLEFT]) immediately before TTVR. The authors write that, “our conceptual framework for selection of CLEFT versus stand-alone EVOQUE TTVR without leaflet modification facilitated a high percentage of procedural success with limited residual [paravalvular leak], suggesting this is a promising approach.” “These are excellent results from this pioneering experience in a range of anatomies,” write Jaffar M. Khan, MD, PhD, and Harminder S. Gill, MD, in an accompanying editorial comment. “[The authors] demonstrate TTVR after failed TEER is feasible, and reasonably safe and effective.”

EuroTR Registry: T-TEER in Patients With CIEDs
In a study leveraging data from the EuroTR Registry, investigators Jennifer von Stein, MD, et al., found that T-TEER was safe and effective in 3,025 patients, 851 of whom had transvalvular cardiac implantable electronic devices (CIEDs) – with TR ≤1+ and TR ≤2+ being achieved in 40% and 80% of patients at discharge, respectively, and in 29% and 69% of patients at a median follow-up of 269 days. Between 385 matching pairs of CIED and non-CIED patients, residual TR, functional status and two-year heart failure hospitalization-free survival were comparable. CIED presence was not significantly associated with more adverse outcomes (HR, 1.31; p=0.064) but was not associated with residual TR >2+ (odds ratio, 0.98; p=0.915), which was found to be more prognostically relevant. “Given the comparable safety and efficacy outcomes, patients with CIEDs should continue to be included in future trials to refine selection criteria and validate long-term outcomes in this growing population,” write the investigators.

TRANSPARENT Registry: M-TEER Feasible in Patients With Obstructive HCM, SAM-Related MR
The retrospective, international, multicenter TRANSPARENT Registry study found transcatheter mitral edge-to-edge repair (M-TEER) was safe and effective in 35 patients at high surgical risk with obstructive hypertrophic cardiomyopathy (HCM), left ventricle outflow tract (LVOT) obstruction and moderate-to-severe systolic anterior motion (SAM)-related mitral regurgitation (MR). Mitral Valve Academic Research Consortium-defined technical, 30-day device and procedural success was achieved in 94%, 91% and 88% of cases, respectively, with MR <2 achieved in 97% of patients. Additionally, LVOT gradient decreased from 62.0 mm Hg to 16.0 mm Hg and persisted during a median follow-up of 523 days. The proportion of patients in NYHA class I/II increased from 31% to 88%, and the composite outcome of all-cause death, admission for acute decompensated heart failure, M-TEER re-do or surgical valve replacement occurred in 26% of cases, primarily driven by acute decompensated heart failure. Of interest, “no patients in our cohort received mavacamten or aficamten,” investigators Luca Testa, MD, PhD, et al. note. “These findings suggest that, in the future, combining myosin inhibitors with M-TEER could further enhance both hemodynamic and clinical outcomes in this challenging patient population.”

Ischemic Left Ventricular Dysfunction Focus of Review
A review by Matthew Ryan, PhD, et al., dives into the epidemiology, pathophysiology and treatment strategies for ischemic left ventricular dysfunction (iLVD). The authors examine current evidence surrounding revascularization in iLVD and provide a detailed framework to select between CABG and PCI in different patient populations and planning and performing PCI. “The choice of PCI or CABG should be informed by patient factors and choices, rather than institutional preference,” write Ryan, et al. “Delivering safe and effective revascularization requires meticulous patient selection, procedure planning, and significant expertise within the catheter lab team and wider healthcare institution.” They emphasize the importance of not only shared decision-making, but teamwork, communication and leadership among the entire cardiovascular care team. They also discuss current gaps in the evidence, ongoing controversies in the field and future directions to better study PCI in a complex, high-risk patient population.

Click here to see all the articles simultaneously published in the JACC Journals.

Keywords:
Transcatheter Cardiovascular Therapeutics, TCT25

KARACHI:

Pakistan’s iron and steel scrap, raw material for iron bars used in housing and other infrastructure building, imports surged to their highest level in nearly four years, driven by renewed private construction activity and improved cost dynamics for local steel producers.

According to data compiled by Arif Habib Limited (AHL), iron and steel scrap imports rose sharply to 359,759 tons in September 2025, marking an increase of 30 percent year-on-year (YoY) and 36% month-on-month (MoM), the highest monthly volume since December 2021.

“The demand uptick is mainly coming from private sector construction projects that were stalled for a long time, housing, apartment complexes, and renovation works are showing signs of revival,” Nasheed Malik, Analyst at Arif Habib Limited, told the ET.

During the first quarter of FY26 (July–September 2025), total scrap imports reached 935,981 tons, up 12% YoY. In value terms, imports during September stood at $178 million, showing an 11% YoY increase, even though the average import price per tonne dropped 15% YoY to $494, reflecting lower global scrap prices.

On a quarterly basis, the import value fell slightly by 2% YoY to $486 million due to a 12% YoY decline in the average import value per ton to $524.

Commenting on the development, the Arif Habib Limited analyst said that the surge in steel scrap imports reflects a revival in the long steel segment, which primarily caters to the construction sector through products such as rebars and girders.

Malik added that the growth in steel demand is roughly 10%–15%, consistent with the 14% year-on-year growth in cement dispatches during the last four months, indicating a broader pickup in construction activity.

Pakistan’s cement sector is expected to post a 30% year-on-year growth in profit after tax (PAT) to around Rs25 billion in 1QFY26, according to Optimus Research. The profitability rise stems from a 14% YoY increase in revenue, lower coal and finance costs, and improved gross margins of 34.3%. Cement dispatches rose 16% YoY to 12 million tons, supported by 14% higher domestic sales and 21% growth in exports. Despite stable local prices, cheaper imported coal, better fuel mix, and lower interest rates boosted earnings. The outlook remains positive, aided by stable PKR, soft energy prices, and infrastructure spending.

“In the south, there’s also some progress on government infrastructure projects, and in October, flood rehabilitation work has started, further adding to demand,” Malik said.

The analyst noted that gross margins in the steel sector have improved significantly in recent months, rising from 5%–6% previously to around 10%–11% now, supported by a combination of policy measures and lower input costs.

“One key factor is the reduction in electricity tariffs for industrial consumers, which has lowered production costs. In addition, the government has eased the import duty structure, duties on raw materials like steel scrap have been reduced by 1%–2%, and trade duties have also been brought down by 2%, creating room for margin expansion,” Malik said.

He added that the decline in policy rates has further supported steelmakers by reducing financing costs and easing working capital constraints. “Managing working capital is now easier because finance costs have come down. This has allowed producers to import more scrap and ramp up operations,” he explained.

Analysts believe that the surge in scrap imports signals renewed momentum for Pakistan’s long steel industry, a critical component of the domestic construction supply chain. The sector, which had been under severe pressure during FY23 and FY24 due to import restrictions, currency volatility, and high interest rates, is now showing early signs of recovery.

AHL’s report described the recent import trends as “positive for the long steel sector,” noting that steel scrap is the primary raw material for producing billets, rebars, and girders.

Industry experts say that if the current demand trajectory holds, supported by private housing activity and selective public projects, steel producers may see improved capacity utilisation and cash flow stability in FY26.

However, risks remain. Any renewed currency weakness, potential reversal in tariff relief, or delays in public development spending could moderate the sector’s gains. Furthermore, the decline in global scrap prices, while currently beneficial, may reduce import value growth and impact export competitiveness if price volatility returns.

For now, though, sentiment appears to be improving. “Both demand-side and policy-side dynamics are turning favourable for steelmakers,” Malik added. “Imports are rising because of stronger domestic demand, better margins, and improved financing conditions, a combination we haven’t seen in years.”

• Webster Financial Corporation recently reported strong third quarter results, with net interest income rising to US$631.67 million and net income increasing to US$261.22 million compared to a year ago.

• An interesting insight is that the company completed a significant share buyback while maintaining conservative credit positioning, with only a slight increase in net charge-offs relative to average loans and leases.

• We’ll assess how Webster Financial’s solid earnings growth and ongoing share repurchases shape its current investment narrative and outlook.

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To be a shareholder in Webster Financial, you need confidence in its ability to translate strong core earnings, broad-based loan and deposit growth, and disciplined credit management into steady value, while overcoming margin compression and regulatory pressures. The recent quarterly update, with robust net interest income and net income growth, supports the investment case, but the minor uptick in net charge-offs does not appear to materially impact the core short-term catalysts or the major risk, which remains tied to commercial real estate exposure. Among the latest developments, Webster’s Q3 share repurchase of 2.2 million shares for US$131.2 million emphasizes management’s ongoing commitment to returning capital to shareholders, complementing balance sheet growth and technology investments as key earnings catalysts. This activity sits alongside management’s ambitions for fee growth from the Marathon joint venture and the operational expansion of HSA Bank, both of which feature in longer-term growth stories. Yet, a key risk that investors should keep in mind relates to the company’s sizable commercial real estate portfolio and what could happen if…

Read the full narrative on Webster Financial (it’s free!)

Webster Financial’s narrative projects $3.4 billion revenue and $1.2 billion earnings by 2028. This requires 10.8% yearly revenue growth and a $369 million increase in earnings from $830.6 million currently.

Uncover how Webster Financial’s forecasts yield a $71.59 fair value, a 27% upside to its current price.

Simply Wall St Community members offered 3 fair value estimates between US$38 and US$129.82, showing broad divergence in their outlooks. These differences highlight how trends in commercial real estate risk can influence the perceived long-term performance of Webster Financial.

Explore 3 other fair value estimates on Webster Financial – why the stock might be worth over 2x more than the current price!

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Right now could be the best entry point. These picks are fresh from our daily scans. Don’t delay:

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include WBS.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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