Fortuna Mining Corp. (NYSE:FSM) Receives $14.00 Consensus PT from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.00.

Several analysts recently commented on FSM shares. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Wall Street Zen lowered shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Thursday.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors and hedge funds have recently modified their holdings of FSM. IFP Advisors Inc acquired a new position in Fortuna Mining during the fourth quarter worth $29,000. Advisory Services Network LLC purchased a new stake in Fortuna Mining during the third quarter worth $27,000. Geneos Wealth Management Inc. grew its holdings in Fortuna Mining by 100.0% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Trading Down 3.8%

NYSE:FSM opened at $8.44 on Wednesday. Fortuna Mining has a 1 year low of $6.17 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. The stock has a fifty day moving average price of $8.80 and a two-hundred day moving average price of $9.99. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 7.96 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%.The company had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. As a group, sell-side analysts anticipate that Fortuna Mining will post 1.32 earnings per share for the current fiscal year.

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.