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

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $11.00.

A number of equities analysts have issued reports on FSM shares. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Zacks Research downgraded Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Finally, Weiss Ratings cut Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th.

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds have recently made changes to their positions in the company. Centric Wealth Management raised its holdings in shares of Fortuna Mining by 10.0% during the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 1,000 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of Fortuna Mining by 1.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock valued at $1,554,000 after purchasing an additional 1,500 shares during the last quarter. DGS Capital Management LLC increased its holdings in shares of Fortuna Mining by 15.8% in the first quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 1,649 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Fortuna Mining by 22.2% in the fourth quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 2,605 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Up 0.7%

Fortuna Mining stock opened at $8.76 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. The business’s 50-day simple moving average is $9.98 and its two-hundred day simple moving average is $10.28. The company has a market cap of $2.65 billion, a PE ratio of 8.26 and a beta of 0.94. Fortuna Mining has a fifty-two week low of $6.17 and a fifty-two week high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. Equities analysts anticipate that Fortuna Mining will post 1.43 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.