Fortuna Mining Corp. (NYSE:FSM) Receives $9.25 Average PT from Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.25.

A number of research firms recently issued reports on FSM. Scotiabank raised their price objective on shares of Fortuna Mining from $8.50 to $10.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Tuesday, October 14th. CIBC raised their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a report on Tuesday, July 15th. Zacks Research downgraded shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, August 8th.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $8.26 on Monday. The firm has a 50-day moving average of $8.34 and a 200-day moving average of $7.12. The company has a market cap of $2.53 billion, a P/E ratio of 16.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. Fortuna Mining has a one year low of $4.13 and a one year high of $9.81.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). The firm had revenue of $230.42 million during the quarter, compared to analysts’ expectations of $220.00 million. Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. Equities research analysts forecast that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortuna Mining

A number of large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Fortuna Mining by 18.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,927,134 shares of the basic materials company’s stock worth $64,823,000 after buying an additional 1,554,963 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Fortuna Mining by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock worth $51,046,000 after purchasing an additional 1,368,600 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Fortuna Mining by 44.8% in 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. American Century Companies Inc. increased its stake in shares of 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fortuna Mining by 123.9% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company’s stock worth $29,553,000 after purchasing an additional 2,688,900 shares in the last quarter. Hedge funds and other institutional investors 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.