Fortuna Mining Corp. (NYSE:FSM) Given Consensus Recommendation of “Buy” by Brokerages

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned a consensus rating of “Buy” from the five research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.00.

A number of research firms have weighed in on FSM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Scotiabank increased their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FSM. Campbell & CO Investment Adviser LLC lifted its holdings in Fortuna Mining by 481.2% during the third quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock valued at $1,714,000 after purchasing an additional 158,412 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Fortuna Mining during the third quarter worth about $550,000. American Century Companies Inc. increased its stake in shares of Fortuna Mining by 26.2% during the third quarter. American Century Companies Inc. now owns 8,032,284 shares of the basic materials company’s stock worth $71,924,000 after purchasing an additional 1,669,226 shares in the last quarter. Sheets Smith Investment Management acquired a new position in shares of Fortuna Mining during the 3rd quarter worth about $1,488,000. Finally, Legal & General Group Plc lifted its stake in Fortuna Mining by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 1,007,808 shares of the basic materials company’s stock valued at $6,587,000 after buying an additional 163,017 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Price Performance

Shares of NYSE FSM opened at $9.49 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.54 and a beta of 0.82. The firm’s 50 day simple moving average is $11.07 and its 200-day simple moving average is $9.73. Fortuna Mining has a 12 month low of $5.13 and a 12 month high of $13.85.

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