Fortuna Mining Corp. (NYSE:FSM) Receives $11.00 Consensus Price Target from Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have received a consensus rating of “Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Scotiabank increased their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Fortuna Mining by 98.8% in the first quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after acquiring an additional 576,264 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Fortuna Mining by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after purchasing an additional 1,368,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Fortuna Mining by 189.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock worth $5,127,000 after purchasing an additional 549,665 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fortuna Mining by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock worth $1,123,000 after purchasing an additional 6,405 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of Fortuna Mining during the 2nd quarter valued at approximately $122,000. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Stock Up 5.0%

Shares of FSM stock opened at $10.42 on Thursday. The company’s fifty day simple moving average is $10.98 and its two-hundred day simple moving average is $9.78. Fortuna Mining has a 52 week low of $5.13 and a 52 week high of $13.85. The stock has a market cap of $3.18 billion, a P/E ratio of 11.58 and a beta of 1.01. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its 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). The firm had revenue of $270.20 million during the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. Analysts predict that Fortuna Mining will post 0.51 EPS for the current fiscal year.

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.