Fortuna Mining (NYSE:FSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a research note released on Sunday morning.

Other equities analysts also recently issued research reports about the company. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. National Bank Financial raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Finally, Scotiabank lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $11.00.

Fortuna Mining Trading Up 1.7%

NYSE FSM opened at $13.57 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.14 billion, a P/E ratio of 15.07 and a beta of 0.88. Fortuna Mining has a 52-week low of $4.13 and a 52-week high of $13.70. The firm has a 50-day moving average price of $10.61 and a 200 day moving average price of $9.19.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The company had revenue of $270.20 million for the quarter. Equities research analysts expect that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FSM. Geneos Wealth Management Inc. raised 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 worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Fortuna Mining in the third quarter valued at $27,000. IFP Advisors Inc acquired a new stake in shares of Fortuna Mining in the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Fortuna Mining by 96.7% during the second 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 during the period. 33.80% of the stock is currently owned by 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.