Stock Traders Purchase High Volume of Fortuna Mining Call Options (NYSE:FSM)

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) saw unusually large options trading activity on Tuesday. Stock investors acquired 7,100 call options on the company. This is an increase of approximately 82% compared to the average daily volume of 3,900 call options.

Analyst Ratings Changes

FSM has been the topic of several recent analyst reports. Scotiabank lifted their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.00.

Fortuna Mining Trading Up 1.1%

FSM opened at $10.46 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $12.54. The company’s 50 day moving average price is $10.38 and its two-hundred day moving average price is $9.01. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 14.53 and a beta of 0.88.

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 the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. As a group, research analysts predict that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in shares of Fortuna Mining by 330.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,761,664 shares of the basic materials company’s stock worth $17,509,000 after acquiring an additional 1,352,016 shares during the last quarter. NewEdge Advisors LLC raised its holdings 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 worth $2,073,000 after purchasing an additional 12,540 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of 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 during the period. SPWM Advisors LLC bought a new stake in shares of Fortuna Mining in the 4th quarter valued at $98,000. Finally, Man Group plc increased its position in shares of Fortuna Mining by 192.5% during the fourth quarter. Man Group plc now owns 783,022 shares of the basic materials company’s stock worth $7,681,000 after buying an additional 515,301 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.