Fortuna Mining (NYSE:FSM) Hits New 1-Year High – Still a Buy?

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.39 and last traded at $10.4050, with a volume of 2569588 shares traded. The stock had previously closed at $9.97.

Wall Street Analyst Weigh In

FSM has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Scotiabank raised Fortuna Mining from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 24th. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortuna Mining currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Fortuna Mining Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 13.83 and a beta of 0.89. The company’s fifty day moving average is $9.28 and its two-hundred day moving average is $8.17.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. The company had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. Equities research analysts forecast that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

Hedge funds have recently modified their holdings of the stock. Swiss Life Asset Management Ltd purchased a new position in Fortuna Mining in the 3rd quarter worth approximately $126,000. Advisory Services Network LLC purchased a new stake in shares of Fortuna Mining during the third quarter valued at approximately $27,000. NewEdge Advisors LLC lifted its position in shares of Fortuna Mining by 2.1% during the third quarter. NewEdge Advisors LLC now owns 198,815 shares of the basic materials company’s stock worth $1,781,000 after purchasing an additional 4,100 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Fortuna Mining in the third quarter valued at $227,000. Finally, XTX Topco Ltd boosted its stake in shares of Fortuna Mining by 75.8% in the third quarter. XTX Topco Ltd now owns 145,707 shares of the basic materials company’s stock valued at $1,306,000 after purchasing an additional 62,818 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Company Profile

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.