Fortuna Mining (NYSE:FSM) Downgraded by Wall Street Zen to “Hold”

Fortuna Mining (NYSE:FSM) (TSE:FVI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on the company. National Bankshares upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday. Zacks Research lowered Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Scotiabank upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $10.50 to $11.00 in a report on Monday. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.50.

Fortuna Mining Stock Up 3.5%

NYSE:FSM opened at $10.10 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $10.18. The company has a market cap of $3.10 billion, a PE ratio of 20.20 and a beta of 0.85. The company’s 50 day moving average is $8.64 and its two-hundred day moving average is $7.46.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The company had revenue of $246.75 million for the quarter, compared to analyst estimates of $242.19 million. Analysts anticipate that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in shares of Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 2,000 shares in the last quarter. Advisory Services Network LLC purchased a new position in Fortuna Mining during the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its position in Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares in the last quarter. Osaic Holdings Inc. grew its holdings in Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 3,006 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Fortuna Mining in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.