Fortuna Mining (NYSE:FSM) Upgraded by Wall Street Zen to Buy Rating

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

Several other analysts have also weighed in on FSM. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Scotiabank increased 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 upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $11.00.

Fortuna Mining Price Performance

Shares of FSM stock opened at $10.28 on Friday. The firm has a market cap of $3.14 billion, a P/E ratio of 11.43 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. Fortuna Mining has a 1-year low of $5.13 and a 1-year high of $13.85. The firm has a fifty day moving average of $11.19 and a two-hundred day moving average of $9.61.

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

Hedge Funds Weigh In On Fortuna Mining

A number of large investors have recently bought and sold shares of the business. Centric Wealth Management grew its holdings in shares of Fortuna Mining by 10.0% during the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 1,000 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Fortuna Mining by 1.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 1,500 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in 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 valued at $26,000 after purchasing an additional 2,000 shares during the period. Farther Finance Advisors LLC boosted its position in 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 purchasing an additional 2,126 shares during the period. Finally, Cetera Investment Advisers grew its stake in Fortuna Mining by 22.2% during the 4th quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock worth $141,000 after buying an additional 2,605 shares during the last quarter. Institutional investors 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.