Fortuna Mining Corp. (NYSE:FSM) Receives Consensus Recommendation of “Reduce” from Analysts

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has received a consensus recommendation of “Reduce” from the four brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.50.

FSM has been the subject of a number of research analyst reports. Wall Street Zen upgraded Fortuna Mining from a “buy” rating to a “strong-buy” rating in a research note on Friday. Scotiabank raised their target price on Fortuna Mining from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. National Bankshares reaffirmed a “sector perform” rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. National Bank Financial raised Fortuna Mining to a “hold” rating in a research report on Friday, March 21st. Finally, CIBC increased their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a research report on Tuesday.

Institutional Investors Weigh In On Fortuna Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSM. Raymond James Financial Inc. purchased a new stake in Fortuna Mining during the 4th quarter worth approximately $523,000. Swiss National Bank boosted its holdings in shares of Fortuna Mining by 2.8% during the 4th quarter. Swiss National Bank now owns 618,830 shares of the basic materials company’s stock worth $2,655,000 after purchasing an additional 16,800 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Fortuna Mining by 10.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock worth $88,000 after purchasing an additional 2,000 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Fortuna Mining by 15.3% during the 4th quarter. American Century Companies Inc. now owns 5,038,830 shares of the basic materials company’s stock worth $21,625,000 after purchasing an additional 668,590 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in Fortuna Mining by 65.4% in the fourth quarter. LPL Financial LLC now owns 93,505 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 36,963 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $6.29 on Friday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56. The business has a fifty day moving average of $6.39 and a 200 day moving average of $5.67. Fortuna Mining has a 1 year low of $3.86 and a 1 year high of $7.55.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $290.15 million during the quarter, compared to analysts’ expectations of $291.00 million. Fortuna Mining had a return on equity of 12.94% and a net margin of 14.28%. As a group, research analysts expect that Fortuna Mining will post 0.51 earnings per share for the current year.

About Fortuna Mining

Fortuna Mining Corp. engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d’Ivoire.