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

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

Several other brokerages have also recently commented on FSM. Scotiabank boosted their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. National Bank Financial raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Fortuna Mining has a consensus rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Performance

FSM stock opened at $13.69 on Monday. The company has a 50-day simple moving average of $10.84 and a 200 day simple moving average of $9.33. The company has a market capitalization of $4.18 billion, a P/E ratio of 15.22 and a beta of 0.82. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $13.84.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $270.20 million for the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. Sell-side analysts predict that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Mining

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp lifted its stake in Fortuna Mining by 18.7% during the fourth quarter. Alberta Investment Management Corp now owns 313,600 shares of the basic materials company’s stock valued at $3,073,000 after buying an additional 49,300 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Fortuna Mining by 330.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,761,664 shares of the basic materials company’s stock valued at $17,509,000 after acquiring an additional 1,352,016 shares during the period. NewEdge Advisors LLC lifted its position in shares of Fortuna Mining by 6.3% in the 4th quarter. NewEdge Advisors LLC now owns 211,355 shares of the basic materials company’s stock valued at $2,073,000 after acquiring an additional 12,540 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Fortuna Mining by 6.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,221,012 shares of the basic materials company’s stock valued at $21,788,000 after acquiring an additional 138,932 shares in the last quarter. Finally, SPWM Advisors LLC acquired a new position in Fortuna Mining in the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.