Fortuna Mining (NYSE:FSM) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Fortuna Mining (NYSE:FSM) (TSE:FVI) posted its earnings results on Wednesday. The basic materials company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03, reports. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. The firm had revenue of $289.78 million for the quarter, compared to analyst estimates of $289.78 million.

Fortuna Mining Stock Down 1.3%

FSM traded down $0.12 during trading hours on Thursday, hitting $9.46. 5,540,454 shares of the company’s stock were exchanged, compared to its average volume of 6,229,038. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 8.02 and a beta of 1.02. Fortuna Mining has a 1-year low of $7.86 and a 1-year high of $13.85. The stock’s 50-day moving average is $11.03 and its two-hundred day moving average is $10.31. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11.

Analyst Upgrades and Downgrades

FSM has been the topic of a number of research analyst reports. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Wall Street Zen lowered Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Fortuna Mining presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.