Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Cibc Captl Mkts

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by investment analysts at Cibc Captl Mkts from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

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

Fortuna Mining Trading Up 3.3%

FSM opened at $10.60 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 3.30 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 52 week low of $4.13 and a 52 week high of $12.54. The business’s 50 day moving average is $10.16 and its two-hundred day moving average is $8.73. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 14.72 and a beta of 0.88.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced 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). The business had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. On average, research analysts predict that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Trading of Fortuna Mining

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kiker Wealth Management LLC increased its stake in 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 valued at $197,000 after purchasing an additional 29,402 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Fortuna Mining by 481.2% in 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 during the period. Sheets Smith Investment Management acquired a new position in shares of Fortuna Mining during the 3rd quarter valued at about $1,488,000. Acadian Asset Management LLC increased its stake in shares of Fortuna Mining by 44.8% during the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after acquiring an additional 2,171,847 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Fortuna Mining by 7.3% during 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 acquiring an additional 434,295 shares during the period. 33.80% of the stock is currently 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.