Analysts Set Fortuna Mining Corp. (NYSE:FSM) Target Price at $14.00

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.00.

FSM has been the topic of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings lowered shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th.

Hedge Funds Weigh In On Fortuna Mining

Several hedge funds and other institutional investors have recently made changes to their positions in FSM. Geneos Wealth Management Inc. boosted its position in Fortuna Mining by 100.0% in the 2nd 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. Advisory Services Network LLC bought a new position in shares of Fortuna Mining during the third quarter worth about $27,000. IFP Advisors Inc acquired a new position in Fortuna Mining in the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC increased its holdings in 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 valued at $31,000 after buying an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Up 4.4%

Shares of NYSE FSM opened at $9.05 on Wednesday. The firm’s 50-day moving average is $8.77 and its two-hundred day moving average is $9.96. The company has a market capitalization of $2.68 billion, a PE ratio of 8.54 and a beta of 1.01. Fortuna Mining has a 12-month low of $6.17 and a 12-month high of $13.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. Equities analysts anticipate that Fortuna Mining will post 1.32 EPS for the current fiscal 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.