Fortuna Mining Corp. (NYSE:FSM) Receives $11.00 Average Price Target from Brokerages

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of research firms recently issued reports on FSM. Weiss Ratings raised Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Scotiabank upped their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th.

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds have recently modified their holdings of FSM. 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 buying an additional 2,000 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Fortuna Mining during the 3rd quarter valued at $27,000. IFP Advisors Inc acquired a new stake in shares of Fortuna Mining in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $31,000 after buying an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $9.14 on Friday. The stock has a market cap of $2.78 billion, a PE ratio of 8.62 and a beta of 0.94. The business has a fifty day simple moving average of $10.14 and a 200-day simple moving average of $10.16. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10. Fortuna Mining has a 12 month low of $5.47 and a 12 month high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results 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). The business had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. On average, sell-side analysts anticipate that Fortuna Mining will post 1.43 EPS for the current fiscal year.

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.