Brokerages Set Fortuna Mining Corp. (NYSE:FSM) PT at $14.00

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $14.00.

A number of equities analysts recently commented on FSM shares. Weiss Ratings lowered Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th.

Institutional Investors Weigh In On Fortuna Mining

Large investors have recently added to or reduced their stakes in the stock. Centric Wealth Management grew its position in shares of Fortuna Mining by 10.0% during the 4th quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock worth $108,000 after buying an additional 1,000 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its position in shares of Fortuna Mining by 1.0% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after buying an additional 1,500 shares during the last quarter. DGS Capital Management LLC grew its holdings in Fortuna Mining by 15.8% in the first quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 1,649 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Fortuna Mining by 100.0% in 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 during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Fortuna Mining by 22.2% during the fourth quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 2,605 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Stock Up 2.2%

Shares of FSM stock opened at $12.46 on Friday. The company’s fifty day simple moving average is $9.29 and its two-hundred day simple moving average is $9.98. Fortuna Mining has a 52 week low of $7.32 and a 52 week high of $13.85. The stock has a market cap of $3.69 billion, a P/E ratio of 10.56 and a beta of 1.01. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $318.41 million for the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. Analysts predict that Fortuna Mining will post 1.24 EPS for the current fiscal year.

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.