Fortuna Mining Corp. (NYSE:FSM) Given Consensus Recommendation of “Buy” by Analysts

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned a consensus rating of “Buy” from the five research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $11.00.

FSM has been the subject of several research analyst reports. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Scotiabank upped their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th.

Fortuna Mining Stock Performance

Shares of NYSE FSM opened at $13.69 on Friday. The company has a 50-day simple moving average of $10.84 and a 200-day simple moving average of $9.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The company has a market cap of $4.18 billion, a PE ratio of 15.22 and a beta of 0.88. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $13.84.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced 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). The firm 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%. On average, equities analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

A number of institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its holdings in 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 valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Fortuna Mining in the 3rd quarter valued at approximately $27,000. IFP Advisors Inc acquired a new position in shares of Fortuna Mining in the 4th quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted 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 during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Fortuna Mining by 96.7% during the second 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. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.