Fortuna Mining (NYSE:FSM) Lowered to Hold Rating by Wall Street Zen

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

Several other brokerages have also commented on FSM. CIBC raised their price objective on Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a report on Tuesday, July 15th. Scotiabank lifted their price target on shares of Fortuna Mining from $8.50 to $10.50 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a report on Tuesday, October 14th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, August 8th. Finally, Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.25.

Fortuna Mining Stock Performance

FSM opened at $8.26 on Friday. The firm has a fifty day moving average price of $8.34 and a 200 day moving average price of $7.12. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $9.81. The stock has a market cap of $2.53 billion, a P/E ratio of 16.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The firm had revenue of $230.42 million during the quarter, compared to analyst estimates of $220.00 million. Equities research analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSM. Geneos Wealth Management Inc. raised its position in shares of 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 valued at $26,000 after buying an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in 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 valued at $31,000 after acquiring an additional 2,691 shares in the last quarter. Osaic Holdings Inc. raised its holdings in 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 acquiring an additional 3,006 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Fortuna Mining in the 2nd quarter valued at about $42,000. Finally, Virtus Advisers LLC purchased a new position in Fortuna Mining in the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.