Fortuna Mining Corp. (NYSE:FSM) Receives Average Rating of “Hold” from Analysts

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has received a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $11.00.

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Finally, Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th.

Institutional Trading of Fortuna Mining

Several large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in shares of Fortuna Mining by 43.5% in the third quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after buying an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Fortuna Mining by 3.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock valued at $198,176,000 after buying an additional 686,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Fortuna Mining by 38.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after buying an additional 3,779,920 shares during the period. Dimensional Fund Advisors LP raised its position in Fortuna Mining by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock valued at $105,576,000 after buying an additional 567,558 shares during the period. Finally, Tidal Investments LLC lifted its stake in Fortuna Mining by 31.4% in the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock worth $80,169,000 after acquiring an additional 2,138,143 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Trading Down 3.3%

Shares of NYSE:FSM opened at $8.14 on Friday. The company has a 50 day moving average of $9.29 and a 200-day moving average of $10.17. The firm has a market cap of $2.44 billion, a P/E ratio of 7.68 and a beta of 0.99. Fortuna Mining has a twelve month low of $6.17 and a twelve month high of $13.85. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. As a group, analysts anticipate that Fortuna Mining will post 1.43 earnings per share for the current fiscal year.

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.