Fortuna Mining Corp. (NYSE:FSM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Several equities analysts recently issued reports on the company. Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSM. Groupe la Francaise boosted its stake in Fortuna Mining by 47.2% during the first quarter. Groupe la Francaise now owns 1,023,380 shares of the basic materials company’s stock worth $10,141,000 after buying an additional 328,380 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Fortuna Mining by 9.8% in the 1st quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock valued at $28,363,000 after buying an additional 255,336 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Fortuna Mining by 52.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company’s stock valued at $81,000 after buying an additional 2,832 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Fortuna Mining by 33.1% during the 1st quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after acquiring an additional 346,716 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Fortuna Mining during the 1st quarter worth about $3,607,000. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Stock Performance

NYSE FSM opened at $8.72 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 8.23 and a beta of 0.99. The company’s fifty day moving average is $9.39 and its two-hundred day moving average is $10.20. Fortuna Mining has a 52-week low of $6.17 and a 52-week high of $13.85.

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