Fortuna Mining (NYSE:FSM) Upgraded by Wall Street Zen to Buy Rating

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also weighed in on the stock. Scotiabank upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 15th. Finally, National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.50.

Fortuna Mining Trading Up 3.2%

Shares of FSM stock opened at $10.16 on Tuesday. The business’s fifty day moving average price is $8.90 and its 200 day moving average price is $7.90. The firm has a market capitalization of $3.12 billion, a PE ratio of 14.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73. Fortuna Mining has a 1-year low of $4.13 and a 1-year high of $10.38.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The company had revenue of $246.75 million for the quarter, compared to analysts’ expectations of $242.19 million. As a group, sell-side analysts forecast that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after buying an additional 2,000 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Fortuna Mining in the third quarter worth approximately $27,000. 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 period. Osaic Holdings Inc. grew its holdings in 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 purchasing an additional 3,006 shares during the period. Finally, Farther Finance Advisors LLC acquired a new position in Fortuna Mining during the second quarter worth approximately $42,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.