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

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

Several other research analysts also recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, Scotiabank upped their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, Fortuna Mining presently has an average rating of “Buy” and an average target price of $11.00.

Fortuna Mining Price Performance

FSM stock opened at $12.25 on Friday. The firm has a 50 day moving average of $10.46 and a 200-day moving average of $9.08. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 13.61 and a beta of 0.88. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 12-month low of $4.13 and a 12-month high of $12.54.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $270.20 million during the quarter. Fortuna Mining had a net margin of 27.59% and a return on equity of 14.36%. As a group, equities analysts expect that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortuna Mining

A number of hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Fortuna Mining by 43.5% in the 3rd 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 last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Fortuna Mining by 80.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock worth $174,866,000 after acquiring an additional 8,706,611 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Fortuna Mining by 1,623.8% in the third quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock worth $40,844,000 after acquiring an additional 4,297,370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Fortuna Mining by 38.1% in 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 purchasing an additional 3,779,920 shares during the period. Finally, Invesco Ltd. increased its position in Fortuna Mining by 1,130.8% during the third quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company’s stock worth $27,944,000 after purchasing an additional 2,865,367 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.