Fortuna Mining (NYSE:FSM) Hits New 52-Week High – Should You Buy?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $12.43 and last traded at $12.4590, with a volume of 1780303 shares traded. The stock had previously closed at $11.65.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Scotiabank upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $10.50 to $11.00 in a report on Monday, November 24th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Fortuna Mining currently has a consensus rating of “Hold” and an average price target of $9.50.

Fortuna Mining Trading Up 4.7%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The firm has a market cap of $3.73 billion, a P/E ratio of 16.86 and a beta of 0.89. The firm has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $8.51.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The firm had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. On average, equities research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake 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 valued at $26,000 after buying an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new position in shares of Fortuna Mining during the third quarter worth about $27,000. EverSource Wealth Advisors LLC increased its position in shares of Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the last quarter. Osaic Holdings Inc. increased its holdings 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 worth $40,000 after buying an additional 3,006 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Fortuna Mining during the 2nd quarter valued at $42,000. Institutional investors 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.