Wall Street Zen Downgrades Fortuna Mining (NYSE:FSM) to Hold

Fortuna Mining (NYSE:FSM) (TSE:FVI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

FSM has been the topic of several other reports. National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Scotiabank lifted their price objective on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Trading Up 0.5%

NYSE:FSM opened at $13.69 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $13.84. The stock’s 50-day moving average is $10.84 and its two-hundred day moving average is $9.33. The stock has a market cap of $4.18 billion, a PE ratio of 15.22 and a beta of 0.82.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The company had revenue of $270.20 million during the quarter. As a group, equities research analysts forecast that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC grew its position in Fortuna Mining by 481.2% in 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 purchasing an additional 158,412 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Fortuna Mining in the third quarter valued at about $550,000. Sheets Smith Investment Management bought a new stake in shares of Fortuna Mining in the third quarter valued at about $1,488,000. Acadian Asset Management LLC increased its stake 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 valued at $45,815,000 after acquiring an additional 2,171,847 shares during the period. Finally, American Century Companies Inc. increased its stake in Fortuna Mining by 7.3% during the second quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after acquiring an additional 434,295 shares during the period. 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.