Fortuna Mining (NYSE:FSM) Raised to “Buy” at Wall Street Zen

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

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

Fortuna Mining Price Performance

Shares of FSM opened at $12.25 on Friday. Fortuna Mining has a 1-year low of $4.13 and a 1-year high of $12.54. The stock has a market cap of $3.74 billion, a PE ratio of 13.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73. The firm has a fifty day moving average price of $10.46 and a 200 day moving average price of $9.08.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $270.20 million during the quarter. Fortuna Mining had a net margin of 27.59% and a return on equity of 14.36%. As a group, sell-side analysts anticipate that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased 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 worth $26,000 after purchasing an additional 2,000 shares during the period. Advisory Services Network LLC acquired a new position in Fortuna Mining during the third quarter worth $27,000. IFP Advisors Inc purchased a new position in Fortuna Mining in the fourth quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of 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 purchasing an additional 3,006 shares in the last quarter. 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.