Fortuna Mining Corp. (NYSE:FSM) Stock Has Consensus Target Price of $14.00 According to Brokerages

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several research analysts have recently weighed in on FSM shares. Wall Street Zen cut shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings raised shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th.

Institutional Trading of Fortuna Mining

Institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Fortuna Mining by 3.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock worth $198,176,000 after acquiring an additional 686,762 shares during the period. Dimensional Fund Advisors LP increased its stake in Fortuna Mining by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock worth $105,576,000 after acquiring an additional 567,558 shares during the last quarter. Euro Pacific Asset Management LLC raised its position in Fortuna Mining by 0.5% in the first quarter. Euro Pacific Asset Management LLC now owns 4,485,635 shares of the basic materials company’s stock valued at $43,925,000 after purchasing an additional 20,866 shares during the period. Bank of America Corp DE raised its position in Fortuna Mining by 9.8% in the first quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock valued at $28,363,000 after purchasing an additional 255,336 shares during the period. Finally, Royal Bank of Canada raised its position in Fortuna Mining by 33.1% in the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock valued at $13,849,000 after purchasing an additional 346,716 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $10.71 on Monday. Fortuna Mining has a one year low of $7.69 and a one year high of $13.85. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 9.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00. The business’s 50 day moving average price is $11.50 and its 200 day moving average price is $10.12.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. The company had revenue of $318.41 million during the quarter, compared to analysts’ expectations of $325.00 million. On average, research analysts predict that Fortuna Mining will post 1.21 EPS for the current year.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company formerly known as Fortuna Silver Mines Inc The company explores, develops, and operates mines producing gold and silver, with activities spanning Latin America and West Africa.

Fortuna’s operating portfolio includes the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d’Ivoire, the Yaramoko gold mine in Burkina Faso, and the Caylloma silver mine in Peru. The company also conducts mineral exploration and resource development in the regions surrounding its operations.

Founded in 2004, Fortuna initially focused on silver mining in Latin America before expanding into gold production and broadening its geographic presence.