Fortuna Mining (NYSE:FSM) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Fortuna Mining (NYSE:FSM) (TSE:FVI) released its quarterly 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. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. The business had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $289.78 million.

Fortuna Mining Stock Performance

NYSE FSM traded down $0.12 on Thursday, hitting $9.46. 5,540,454 shares of the company’s stock were exchanged, compared to its average volume of 6,228,932. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 8.02 and a beta of 1.02. The firm’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.31. Fortuna Mining has a fifty-two week low of $7.86 and a fifty-two week high of $13.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50.

Analysts Set New Price Targets

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