Fortuna Mining Corp. (NYSE:FSM) Receives $14.00 Average PT from Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings upgraded Fortuna Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FSM. Public Employees Retirement System of Ohio purchased a new stake in shares of Fortuna Mining during the second quarter valued at $7,076,000. Arrowstreet Capital Limited Partnership lifted its position in Fortuna Mining by 3.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock worth $198,176,000 after acquiring an additional 686,762 shares during the period. Dimensional Fund Advisors LP lifted its position in Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock worth $105,576,000 after acquiring an additional 567,558 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Fortuna Mining during the 1st quarter valued at about $3,607,000. Finally, Royal Bank of Canada grew its stake in 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 valued at $13,849,000 after purchasing an additional 346,716 shares during the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Trading Down 4.6%

NYSE:FSM opened at $11.64 on Thursday. Fortuna Mining has a 52 week low of $7.69 and a 52 week high of $13.85. The firm has a 50 day moving average of $10.74 and a 200 day moving average of $10.02. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 9.87 and a beta of 1.08.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). The firm had revenue of $318.41 million during the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. As a group, sell-side analysts anticipate that Fortuna Mining will post 1.24 earnings per share for the current fiscal year.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines in the Americas and West Africa. The company produces gold, silver, lead and zinc, with gold representing an important part of its current operating portfolio.

Fortuna’s principal assets include the Séguéla gold mine in Côte d’Ivoire, the Lindero gold mine in Argentina and the Caylloma polymetallic mine in Peru. The company also maintains exploration and development activities in the regions surrounding its operations.