Fortuna Mining Corp. (NYSE:FSM) Stock Has Consensus Price Target of $14.00

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.00.

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings upgraded Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th.

Fortuna Mining Stock Performance

NYSE FSM opened at $10.17 on Monday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 8.62 and a beta of 1.05. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11. Fortuna Mining has a twelve month low of $7.69 and a twelve month high of $13.85. The stock has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $10.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. The company had revenue of $318.41 million for the quarter, compared to analyst estimates of $325.00 million. Sell-side analysts expect that Fortuna Mining will post 1.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. DGS Capital Management LLC increased its position in shares of Fortuna Mining by 15.8% during the first quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock worth $120,000 after buying an additional 1,649 shares during the period. Integrated Wealth Concepts LLC raised its stake in Fortuna Mining by 15.1% during the second quarter. Integrated Wealth Concepts LLC now owns 12,729 shares of the basic materials company’s stock worth $108,000 after buying an additional 1,672 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 buying an additional 2,832 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Fortuna Mining by 0.5% in the first quarter. Public Employees Retirement System of Ohio now owns 815,879 shares of the basic materials company’s stock valued at $8,083,000 after buying an additional 3,839 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in Fortuna Mining by 1,001.3% in the first quarter. Banque Cantonale Vaudoise now owns 6,553 shares of the basic materials company’s stock valued at $65,000 after buying an additional 5,958 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company formerly known as Fortuna Silver Mines Inc The company explores, develops, and operates mines producing gold and silver, with activities spanning Latin America and West Africa.

Fortuna’s operating portfolio includes the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d’Ivoire, the Yaramoko gold mine in Burkina Faso, and the Caylloma silver mine in Peru. The company also conducts mineral exploration and resource development in the regions surrounding its operations.

Founded in 2004, Fortuna initially focused on silver mining in Latin America before expanding into gold production and broadening its geographic presence.