Fortuna Mining (NYSE:FSM) Posts Earnings Results, Beats Estimates By $0.03 EPS

Fortuna Mining (NYSE:FSM) (TSE:FVI) announced its earnings results on Wednesday. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03, reports. The firm had revenue of $289.78 million for the quarter, compared to analysts’ expectations of $289.78 million. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%.

Fortuna Mining Price Performance

Shares of NYSE:FSM traded down $0.12 on Thursday, reaching $9.46. 5,540,454 shares of the company traded hands, compared to its average volume of 6,229,038. Fortuna Mining has a fifty-two week low of $7.86 and a fifty-two week high of $13.85. The company’s 50 day moving average is $11.03 and its 200-day moving average is $10.31. The stock has a market capitalization of $2.80 billion, a PE ratio of 8.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Wall Street Zen cut shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings cut shares of Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 26th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.