Fortuna Mining Corp. (NYSE:FSM) Given Average Rating of “Hold” by Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.50.

Several research analysts have commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Scotiabank raised 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 note on Monday, November 24th. Finally, National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th.

Institutional Investors Weigh In On Fortuna Mining

Several large investors have recently bought and sold shares of FSM. Kiker Wealth Management LLC grew its holdings in Fortuna Mining by 4,200.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 29,402 shares during the last quarter. Sheets Smith Investment Management bought a new stake in Fortuna Mining in the third quarter worth about $1,488,000. Acadian Asset Management LLC boosted its position in shares of Fortuna Mining by 44.8% during the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after buying an additional 2,171,847 shares during the period. American Century Companies Inc. grew its stake in shares of Fortuna Mining by 7.3% during the second quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after buying an additional 434,295 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Fortuna Mining during the second quarter valued at approximately $1,721,000. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Trading Up 3.0%

Shares of FSM opened at $10.26 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $10.45. The company has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $8.19. The firm has a market cap of $3.15 billion, a P/E ratio of 14.24 and a beta of 0.89.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results 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). The company had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. On average, equities analysts expect that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Fortuna Mining Company Profile

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.