Fortuna Mining (NYSE:FSM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a report released on Saturday.

A number of other analysts have also recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Finally, Scotiabank raised their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $11.00.

Fortuna Mining Stock Down 6.8%

FSM stock opened at $10.28 on Friday. Fortuna Mining has a fifty-two week low of $5.13 and a fifty-two week high of $13.85. The business’s 50-day moving average is $11.19 and its two-hundred day moving average is $9.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly 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). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million for the quarter. As a group, analysts forecast that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

Several institutional investors and hedge funds have recently modified their holdings of the company. World Investment Advisors purchased a new stake in Fortuna Mining in the 4th quarter worth $1,415,000. Alberta Investment Management Corp grew its position in shares of Fortuna Mining by 18.7% during the fourth quarter. Alberta Investment Management Corp now owns 313,600 shares of the basic materials company’s stock worth $3,073,000 after purchasing an additional 49,300 shares in the last quarter. Mackenzie Financial Corp raised its stake in Fortuna Mining by 330.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,761,664 shares of the basic materials company’s stock valued at $17,509,000 after purchasing an additional 1,352,016 shares during the period. NewEdge Advisors LLC raised its stake in Fortuna Mining by 6.3% during the 4th quarter. NewEdge Advisors LLC now owns 211,355 shares of the basic materials company’s stock valued at $2,073,000 after purchasing an additional 12,540 shares during the period. Finally, Voloridge Investment Management LLC lifted its holdings in Fortuna Mining by 6.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,221,012 shares of the basic materials company’s stock worth $21,788,000 after purchasing an additional 138,932 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors.

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.