Fortuna Mining (NYSE:FSM) Trading 11.2% Higher – Still a Buy?

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) traded up 11.2% during mid-day trading on Thursday . The stock traded as high as $10.87 and last traded at $10.9460. 2,297,212 shares were traded during mid-day trading, a decline of 69% from the average session volume of 7,407,264 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Scotiabank boosted their price objective on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Fortuna Mining Trading Up 3.0%

The company has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $10.04. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.28 billion, a PE ratio of 10.17 and a beta of 0.94.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a return on equity of 16.73% and a net margin of 31.07%.The company had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. Analysts anticipate that Fortuna Mining Corp. will post 1.63 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

Several large investors have recently bought and sold shares of FSM. Geneos Wealth Management Inc. increased its holdings in Fortuna Mining by 100.0% during 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. Advisory Services Network LLC acquired a new position in shares of Fortuna Mining during the 3rd quarter worth about $27,000. IFP Advisors Inc acquired a new position in shares of Fortuna Mining during the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 3,006 shares in the last quarter. Hedge funds and other 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.