Fortuna Mining Corp. (NYSE:FSM) Receives Average Rating of “Hold” from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have received an average rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.00.

Several brokerages recently issued reports on FSM. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Scotiabank upped their price objective on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd.

Fortuna Mining Stock Up 4.3%

Fortuna Mining stock opened at $10.23 on Wednesday. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $12.54. The stock has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $8.72. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 14.20 and a beta of 0.88.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced 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 21.48% and a return on equity of 12.42%. The business had revenue of $246.75 million for the quarter, compared to the consensus estimate of $242.19 million. Equities analysts predict that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position 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 worth $26,000 after purchasing an additional 2,000 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Fortuna Mining by 32.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after buying an additional 2,126 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after buying an additional 2,691 shares in the last quarter. Advisory Services Network LLC bought a new position in Fortuna Mining in the 3rd quarter worth $27,000. Finally, Osaic Holdings Inc. increased its stake in Fortuna Mining by 96.7% in 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 in the last quarter. Institutional investors 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.