Fortuna Mining (NYSE:FSM) Upgraded at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

FSM has been the subject of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, Scotiabank increased their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Up 6.8%

FSM stock traded up $0.66 on Tuesday, reaching $10.41. 6,472,276 shares of the company traded hands, compared to its average volume of 8,957,486. The firm has a fifty day simple moving average of $10.16 and a 200-day simple moving average of $8.74. The company has a market cap of $3.19 billion, a P/E ratio of 14.46 and a beta of 0.88. Fortuna Mining has a one year low of $4.13 and a one year high of $12.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The company had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Research analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

Several large investors have recently modified their holdings of the company. Kiker Wealth Management LLC boosted its position in shares of Fortuna Mining by 4,200.3% in the second quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 29,402 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of Fortuna Mining by 481.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock valued at $1,714,000 after buying an additional 158,412 shares in the last quarter. Sheets Smith Investment Management bought a new position in Fortuna Mining in the 3rd quarter worth $1,488,000. Acadian Asset Management LLC boosted its holdings in Fortuna Mining by 44.8% in the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after buying an additional 2,171,847 shares during the period. Finally, American Century Companies Inc. increased its stake in Fortuna Mining by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock worth $41,631,000 after buying an additional 434,295 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.