Brokerages Set Fortuna Mining Corp. (NYSE:FSM) PT at $11.00

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $11.00.

FSM has been the subject of a number of analyst reports. Zacks Research downgraded Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th.

Institutional Trading of Fortuna Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. Groupe la Francaise lifted its position in shares of Fortuna Mining by 47.2% during the first quarter. Groupe la Francaise now owns 1,023,380 shares of the basic materials company’s stock worth $10,141,000 after purchasing an additional 328,380 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Fortuna Mining by 9.8% during the first quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock worth $28,363,000 after purchasing an additional 255,336 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Fortuna Mining by 52.8% during the first quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company’s stock worth $81,000 after purchasing an additional 2,832 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Fortuna Mining by 33.1% during the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after purchasing an additional 346,716 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Fortuna Mining during the first quarter worth $3,607,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Stock Up 3.8%

Shares of FSM opened at $8.93 on Tuesday. The company has a market cap of $2.71 billion, a PE ratio of 8.43 and a beta of 0.94. The business has a fifty day moving average of $9.88 and a 200 day moving average of $10.27. Fortuna Mining has a 52-week low of $6.17 and a 52-week high of $13.85. 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 (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $342.47 million during the quarter, compared to the consensus estimate 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 expect that Fortuna Mining will post 1.43 EPS for the current year.

Fortuna Mining Company Profile

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.