Fortuna Mining Corp. (NYSE:FSM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.00.

Several research analysts have weighed in on FSM shares. Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Zacks Research upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th.

Fortuna Mining Price Performance

NYSE FSM opened at $12.28 on Friday. Fortuna Mining has a 52 week low of $7.45 and a 52 week high of $13.85. The firm has a market capitalization of $3.63 billion, a P/E ratio of 10.41 and a beta of 1.01. 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 company has a 50-day moving average price of $9.48 and a 200-day moving average price of $10.03.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business 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%. Equities research analysts anticipate that Fortuna Mining will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. IFP Advisors Inc bought a new position in shares of Fortuna Mining during the 4th quarter valued at approximately $29,000. Advisory Services Network LLC purchased a new position in Fortuna Mining during the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. lifted its holdings in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares during the period. 33.80% of the stock is owned by hedge funds and other 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.