Fortuna Mining Corp. (NYSE:FSM) Receives Average Recommendation of “Buy” from Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have received a consensus recommendation of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.00.

A number of research analysts have commented on FSM shares. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note 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 lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th.

Hedge Funds Weigh In On Fortuna Mining

Several institutional investors have recently made changes to their positions in FSM. Campbell & CO Investment Adviser LLC raised its position in shares of Fortuna Mining by 481.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after buying an additional 158,412 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Fortuna Mining during the third quarter valued at approximately $550,000. Sheets Smith Investment Management acquired a new position in shares of Fortuna Mining during the third quarter valued at approximately $1,488,000. Acadian Asset Management LLC raised its holdings in Fortuna Mining by 44.8% during the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after purchasing an additional 2,171,847 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Fortuna Mining by 7.3% in the second quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock worth $41,631,000 after purchasing an additional 434,295 shares during the period. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Price Performance

FSM opened at $13.69 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 15.22 and a beta of 0.88. The company has a 50-day moving average of $10.84 and a 200-day moving average of $9.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. Fortuna Mining has a 1-year low of $4.13 and a 1-year high of $13.84.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $270.20 million for the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. Equities analysts expect that Fortuna Mining will post 0.51 EPS 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.