Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Zacks Research

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

FSM has been the subject of several other reports. Cibc Captl Mkts raised shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Scotiabank increased their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Price Performance

Shares of FSM stock traded down $0.82 during mid-day trading on Tuesday, hitting $9.76. 11,676,676 shares of the stock traded hands, compared to its average volume of 9,089,404. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $12.54. 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 company’s 50-day simple moving average is $10.16 and its 200-day simple moving average is $8.73. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 13.55 and a beta of 0.88.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its 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 for the quarter, compared to analyst estimates of $242.19 million. As a group, equities research analysts expect that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

Hedge funds have recently made changes to their positions in the stock. Kiker Wealth Management LLC increased its holdings in shares of Fortuna Mining by 4,200.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 29,402 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Fortuna Mining by 481.2% during the third quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after purchasing an additional 158,412 shares during the period. Sheets Smith Investment Management acquired a new position in Fortuna Mining during the third quarter valued at approximately $1,488,000. Acadian Asset Management LLC raised its position in shares of Fortuna Mining by 44.8% in the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after purchasing an additional 2,171,847 shares during the period. Finally, American Century Companies Inc. raised its holdings in Fortuna Mining by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock worth $41,631,000 after acquiring an additional 434,295 shares during the period. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.