Scotiabank Decreases Earnings Estimates for Fortuna Mining

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) – Scotiabank dropped their FY2027 EPS estimates for Fortuna Mining in a report released on Friday, May 1st. Scotiabank analyst E. Winmill now anticipates that the basic materials company will post earnings per share of $1.70 for the year, down from their prior forecast of $1.74. Scotiabank currently has a “Outperform” rating and a $14.00 price target on the stock. The consensus estimate for Fortuna Mining’s current full-year earnings is $1.63 per share.

Several other brokerages have also recently weighed in on FSM. Zacks Research cut Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Wall Street Zen cut shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Fortuna Mining Trading Down 2.9%

FSM stock opened at $9.21 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. Fortuna Mining has a twelve month low of $5.23 and a twelve month high of $13.85. The company has a market cap of $2.80 billion, a P/E ratio of 10.23 and a beta of 0.94. The business has a fifty day moving average of $10.74 and a 200-day moving average of $10.03.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Institutional Trading of Fortuna Mining

A number of hedge funds have recently modified their holdings of FSM. Geneos Wealth Management Inc. boosted its stake in Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 2,000 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Fortuna Mining in the third quarter worth $27,000. IFP Advisors Inc bought a new position in shares of Fortuna Mining during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in shares of Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in Fortuna Mining by 96.7% in the 2nd 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 during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.