Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Wall Street Zen

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Tuesday, October 14th. CIBC lifted 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Friday, August 8th. Scotiabank raised their target price on shares of Fortuna Mining from $8.50 to $10.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fortuna Mining presently has an average rating of “Hold” and an average target price of $9.25.

Fortuna Mining Price Performance

FSM opened at $8.42 on Friday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 16.84 and a beta of 0.85. Fortuna Mining has a 12-month low of $4.13 and a 12-month high of $9.81. The stock has a 50-day moving average price of $8.40 and a 200-day moving average price of $7.20. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The business had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. Equities analysts predict that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSM. Kingsview Wealth Management LLC bought a new position in shares of Fortuna Mining in the 1st quarter valued at about $969,000. PCG Wealth Advisors LLC purchased a new stake in shares of Fortuna Mining in the first quarter valued at approximately $61,000. Allianz Asset Management GmbH purchased a new stake in shares of Fortuna Mining in the 1st quarter worth $588,000. TD Asset Management Inc lifted its stake in Fortuna Mining by 137.8% in the first quarter. TD Asset Management Inc now owns 2,063,851 shares of the basic materials company’s stock worth $12,547,000 after acquiring an additional 1,195,890 shares during the period. Finally, National Bank of Canada FI raised its stake in Fortuna Mining by 41.1% in the first quarter. National Bank of Canada FI now owns 1,238,507 shares of the basic materials company’s stock worth $7,512,000 after buying an additional 360,488 shares in the last quarter. 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.