Fortuna Mining Corp. (NYSE:FSM) Stock Has Average Price Target of $14.00 According to Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several equities research analysts recently commented on FSM shares. Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Weiss Ratings raised shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen cut Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th.

Fortuna Mining Stock Up 1.6%

Shares of NYSE FSM traded up $0.17 during mid-day trading on Monday, hitting $10.71. 4,477,275 shares of the stock traded hands, compared to its average volume of 5,665,372. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 9.07 and a beta of 1.05. The stock has a fifty day moving average price of $11.50 and a 200-day moving average price of $10.12. Fortuna Mining has a 52 week low of $7.69 and a 52 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.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The firm had revenue of $318.41 million for the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. Research analysts anticipate that Fortuna Mining will post 1.21 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

Institutional investors have recently modified their holdings of the stock. Bullock Wealth Management Group purchased a new position in Fortuna Mining in the third quarter worth about $69,000. Banque Cantonale Vaudoise lifted its position in Fortuna Mining by 1,001.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,553 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 5,958 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Fortuna Mining by 52.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company’s stock valued at $81,000 after acquiring an additional 2,832 shares in the last quarter. Farther Finance Advisors LLC bought a new position in Fortuna Mining in the 3rd quarter valued at approximately $108,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Fortuna Mining during the 3rd quarter valued at $114,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company formerly known as Fortuna Silver Mines Inc The company explores, develops, and operates mines producing gold and silver, with activities spanning Latin America and West Africa.

Fortuna’s operating portfolio includes the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d’Ivoire, the Yaramoko gold mine in Burkina Faso, and the Caylloma silver mine in Peru. The company also conducts mineral exploration and resource development in the regions surrounding its operations.

Founded in 2004, Fortuna initially focused on silver mining in Latin America before expanding into gold production and broadening its geographic presence.