Fortuna Mining Corp. (NYSE:FSM) Receives $8.00 Consensus Price Target from Analysts

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has earned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.00.

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fortuna Mining in a research report on Saturday, September 27th. CIBC lifted their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a research report on Tuesday, July 15th. Scotiabank lifted their price target on Fortuna Mining from $7.50 to $8.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 6th. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 9th.

Fortuna Mining Stock Up 6.8%

FSM opened at $9.38 on Thursday. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $6.80. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $9.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.15 and a current ratio of 2.71. The firm has a market cap of $2.88 billion, a P/E ratio of 18.76 and a beta of 0.84.

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

Institutional Trading of Fortuna Mining

Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Fortuna Mining by 16.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,951 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 10,690 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Fortuna Mining during the first quarter valued at approximately $445,000. Nuveen Asset Management LLC increased its position in shares of Fortuna Mining by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 303,857 shares of the basic materials company’s stock valued at $1,304,000 after purchasing an additional 68,350 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Fortuna Mining during the first quarter valued at approximately $588,000. Finally, SG Americas Securities LLC increased its position in shares of Fortuna Mining by 702.7% during the first quarter. SG Americas Securities LLC now owns 178,250 shares of the basic materials company’s stock valued at $1,087,000 after purchasing an additional 156,043 shares during the period. 33.80% of the stock is currently owned by institutional investors.

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.