Fortuna Mining (NYSE:FSM) Announces Earnings Results

Fortuna Mining (NYSE:FSM) (TSE:FVI) issued its earnings results on Wednesday. The basic materials company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03, reports. The company had revenue of $293.40 million during 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 Stock Performance

Shares of FSM opened at $9.64 on Friday. Fortuna Mining has a 12 month low of $7.86 and a 12 month high of $13.85. The company has a current ratio of 3.00, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $10.91 and its two-hundred day simple moving average is $10.30. The stock has a market capitalization of $2.85 billion, a P/E ratio of 10.05 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSM. Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Wall Street Zen cut shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

About Fortuna Mining

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.