Analysts Set Fortuna Mining Corp. (NYSE:FSM) Price Target at $8.00

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.00.

FSM has been the topic of a number of recent research reports. National Bankshares restated a “sector perform” rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Scotiabank lifted their price target on Fortuna Mining from $7.50 to $8.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 6th. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. CIBC raised their target price on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a report on Tuesday, July 15th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, August 8th.

Fortuna Mining Stock Up 0.6%

NYSE FSM opened at $8.98 on Thursday. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $9.27. The company has a market capitalization of $2.76 billion, a P/E ratio of 17.96 and a beta of 0.84. The company’s 50 day simple moving average is $7.68 and its 200 day simple moving average is $6.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.08). The business had revenue of $230.42 million during the quarter, compared to analyst estimates of $220.00 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. Equities research analysts expect that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Mining

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its holdings in shares of Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after buying an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 2,691 shares in the last quarter. Osaic Holdings Inc. grew its stake in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 3,006 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Fortuna Mining in the 2nd quarter valued at about $42,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Fortuna Mining in the first quarter worth approximately $58,000. 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.