Fortuna Mining (NYSE:FSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other brokerages have also recently weighed in on FSM. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. National Bank Financial raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Finally, Scotiabank increased their target price on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Up 0.1%

Shares of FSM opened at $10.31 on Friday. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $11.20 and a two-hundred day moving average price of $9.66. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 11.45 and a beta of 0.82. Fortuna Mining has a 12 month low of $5.13 and a 12 month high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The company had revenue of $270.20 million during the quarter. Equities analysts predict that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake 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 valued at $7,074,000 after buying an additional 576,264 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock worth $51,046,000 after buying an additional 1,368,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Fortuna Mining by 189.0% during 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 buying an additional 549,665 shares during the period. Savant Capital LLC bought a new stake in shares of Fortuna Mining in the 2nd quarter valued at about $298,000. Finally, Vise Technologies Inc. acquired a new stake in shares of Fortuna Mining in the 2nd quarter valued at approximately $78,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.