Fortuna Mining (NYSE:FSM) Sets New 12-Month High – Still a Buy?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $10.01 and last traded at $9.9390, with a volume of 380464 shares. The stock had previously closed at $9.76.

Analyst Ratings Changes

FSM has been the subject of several analyst reports. Scotiabank raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $10.50 to $11.00 in a research report on Monday, November 24th. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Saturday. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Zacks Research downgraded shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fortuna Mining presently has an average rating of “Hold” and a consensus target price of $9.50.

Fortuna Mining Stock Up 3.5%

The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 20.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.15 and a current ratio of 2.71. The business’s 50 day moving average is $8.64 and its 200 day moving average is $7.48.

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

Institutional Trading of Fortuna Mining

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