Fortuna Mining (FSM) Projected to Post Earnings on Wednesday

Fortuna Mining (NYSE:FSM) (TSE:FVI) is expected to post its results after the market closes on Wednesday, February 18th. Analysts expect Fortuna Mining to post earnings of $0.2253 per share for the quarter.

Fortuna Mining Trading Up 5.5%

Shares of FSM stock traded up $0.58 during mid-day trading on Friday, hitting $10.97. 2,564,178 shares of the company’s stock were exchanged, compared to its average volume of 8,400,322. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 15.24 and a beta of 0.88. The company has a quick ratio of 2.73, a current ratio of 3.30 and a debt-to-equity ratio of 0.11. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $12.54. The stock has a 50-day simple moving average of $10.28 and a two-hundred day simple moving average of $8.88.

Analyst Ratings Changes

Several research firms have commented on FSM. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Scotiabank raised their target price on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Fortuna Mining currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Hedge Funds Weigh In On Fortuna Mining

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in Fortuna Mining by 80.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock worth $174,866,000 after purchasing an additional 8,706,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Fortuna Mining by 38.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after buying an additional 3,779,920 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Fortuna Mining by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,066,599 shares of the basic materials company’s stock worth $98,758,000 after buying an additional 758,657 shares during the period. Tidal Investments LLC grew its stake in shares of Fortuna Mining by 31.4% in the third quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock valued at $80,169,000 after buying an additional 2,138,143 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after buying an additional 1,368,600 shares during the period. 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.