Fortuna Mining (NYSE:FSM) Upgraded by Cibc Captl Mkts to Hold Rating

Cibc Captl Mkts upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Scotiabank lifted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Price Performance

FSM opened at $10.60 on Tuesday. The business has a fifty day moving average of $10.16 and a 200 day moving average of $8.73. The stock has a market cap of $3.24 billion, a P/E ratio of 14.72 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 52-week low of $4.13 and a 52-week high of $12.54.

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 for the quarter, missing the consensus estimate of $0.23 by ($0.08). The business had revenue of $246.75 million for the quarter, compared to the consensus estimate of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. As a group, sell-side analysts anticipate that Fortuna Mining will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Fortuna Mining

Institutional investors and hedge funds have recently bought and sold shares of the company. Centric Wealth Management lifted its holdings in Fortuna Mining by 10.0% in the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 1,000 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of 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 purchasing an additional 2,000 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Fortuna Mining by 32.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 2,126 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Fortuna Mining during the third quarter valued at $27,000. 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.