Fortuna Mining Corp. (NYSE:FSM) Given Consensus Rating of “Buy” by Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been given a consensus rating of “Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.00.

FSM has been the subject of several recent research reports. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen lowered Fortuna Mining from a “buy” rating to a “hold” rating in a research report on Monday. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Scotiabank boosted their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th.

Fortuna Mining Stock Performance

FSM stock opened at $11.75 on Friday. The firm has a 50 day simple moving average of $11.03 and a 200 day simple moving average of $9.45. Fortuna Mining has a 52 week low of $4.29 and a 52 week high of $13.85. The stock has a market cap of $3.59 billion, a P/E ratio of 13.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $270.20 million during the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. Research analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Fortuna Mining by 43.5% during the third quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after buying an additional 8,878,857 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Fortuna Mining by 3.5% during the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after acquiring an additional 3,779,920 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fortuna Mining by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,066,599 shares of the basic materials company’s stock valued at $98,758,000 after acquiring an additional 758,657 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Fortuna Mining by 31.4% in the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock valued at $80,169,000 after acquiring an additional 2,138,143 shares in the last quarter. 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.