Fortuna Mining (NYSE:FSM) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research report sent to investors on Monday.

Other analysts also recently issued research reports about the stock. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Scotiabank lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat, Fortuna Mining has an average rating of “Buy” and an average price target of $11.00.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $12.37 on Monday. The business has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $9.43. Fortuna Mining has a 1-year low of $4.28 and a 1-year high of $13.85. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.78 billion, a P/E ratio of 13.74 and a beta of 0.82.

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

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Fortuna Mining by 481.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after buying an additional 158,412 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Fortuna Mining in the third quarter worth about $550,000. Sheets Smith Investment Management purchased a new position in Fortuna Mining in the third quarter valued at about $1,488,000. Acadian Asset Management LLC grew its position in shares of Fortuna Mining by 44.8% during the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after acquiring an additional 2,171,847 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Fortuna Mining by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after acquiring an additional 434,295 shares during the period. Institutional investors and hedge funds 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.