Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Zacks Research

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

FSM has been the subject of several other reports. Wall Street Zen lowered Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings lowered Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.00.

Fortuna Mining Trading Up 1.7%

Shares of FSM stock opened at $8.51 on Monday. Fortuna Mining has a 52-week low of $6.17 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. The company has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $10.13. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 8.03 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The firm had revenue of $342.47 million during the quarter, compared to analysts’ expectations of $340.00 million. Research analysts anticipate that Fortuna Mining will post 1.43 EPS for the current fiscal year.

Institutional Trading of Fortuna Mining

Several hedge funds have recently added to or reduced their stakes in FSM. 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 stake in shares of Fortuna Mining during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,000 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 3,006 shares during the last quarter. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Company Profile

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.