Fortuna Mining (NYSE:FSM) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.00.

Fortuna Mining Stock Performance

NYSE:FSM opened at $10.07 on Friday. The business has a 50 day moving average price of $10.87 and a 200-day moving average price of $10.29. Fortuna Mining has a fifty-two week low of $7.90 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00. The firm has a market cap of $2.98 billion, a PE ratio of 10.49 and a beta of 1.02.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $293.40 million for the quarter, compared to the consensus estimate of $289.78 million. Fortuna Mining had a return on equity of 17.19% and a net margin of 24.70%. Equities research analysts predict that Fortuna Mining will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Mining

Institutional investors have recently made changes to their positions in the business. Bullock Wealth Management Group bought a new stake in Fortuna Mining during the third quarter valued at approximately $69,000. EverSource Wealth Advisors LLC raised its position in Fortuna Mining by 52.8% in the first quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 2,832 shares during the period. Integrated Wealth Concepts LLC raised its position in Fortuna Mining by 15.1% in the second quarter. Integrated Wealth Concepts LLC now owns 12,729 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Fortuna Mining during the 3rd quarter worth $108,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of Fortuna Mining during the 3rd quarter worth $114,000. Institutional investors own 33.80% of the company’s stock.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company focused on the exploration, development and operation of mines. Its production includes gold, silver, lead and zinc.

The company operates mines in Argentina, Burkina Faso, Côte d’Ivoire and Peru. Its assets include the Lindero gold mine in Argentina, the Yaramoko gold mine in Burkina Faso, the Séguéla gold mine in Côte d’Ivoire and the Caylloma silver, lead and zinc mine in Peru.

Founded as Fortuna Silver Mines, the company adopted the Fortuna Mining name in 2024 as its business expanded beyond silver.