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

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $11.00.

Several analysts have recently commented on the stock. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Scotiabank raised their price objective 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.

Institutional Investors Weigh In On Fortuna Mining

Several hedge funds have recently modified their holdings of FSM. IFP Advisors Inc acquired a new position in shares of Fortuna Mining during the 4th quarter worth approximately $29,000. Advisory Services Network LLC purchased a new position in Fortuna Mining during the third quarter valued at $27,000. Geneos Wealth Management Inc. lifted its holdings in Fortuna Mining by 100.0% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 valued at $31,000 after purchasing an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. increased its stake 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 purchasing an additional 3,006 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Mining Price Performance

NYSE FSM opened at $10.41 on Wednesday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 14.46 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 stock’s fifty day moving average price is $10.17 and its 200 day moving average price is $8.79. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $12.54.

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.