Scotiabank Brokers Cut Earnings Estimates for Fortuna Mining

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) – Research analysts at Scotiabank dropped their FY2026 earnings per share estimates for Fortuna Mining in a report issued on Wednesday, November 11th. Scotiabank analyst E. Winmill now anticipates that the basic materials company will post earnings per share of $1.05 for the year, down from their prior estimate of $1.06. Scotiabank has an “Outperform” rating on the stock. The consensus estimate for Fortuna Mining’s current full-year earnings is $1.06 per share.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Fortuna Mining had a return on equity of 17.02% and a net margin of 24.70%. The firm had revenue of $293.40 million for the quarter, compared to analyst estimates of $289.78 million.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen cut Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Fortuna Mining presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Stock Performance

Shares of NYSE FSM opened at $9.12 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.84 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 12 month low of $7.90 and a 12 month high of $13.85. The stock has a 50 day moving average of $10.71 and a 200-day moving average of $10.26. The company has a market capitalization of $2.70 billion, a P/E ratio of 9.50 and a beta of 1.02.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Spark Investment Management LLC bought a new stake in shares of Fortuna Mining during the second quarter worth approximately $380,000. Groupe la Francaise grew its position in shares of Fortuna Mining by 10.4% in the second quarter. Groupe la Francaise now owns 1,130,000 shares of the basic materials company’s stock valued at $9,557,000 after purchasing an additional 106,620 shares during the last quarter. Royal Bank of Canada grew its position in shares of Fortuna Mining by 33.1% in the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock valued at $13,849,000 after purchasing an additional 346,716 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Fortuna Mining in the second quarter valued at approximately $2,388,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Fortuna Mining during the second quarter worth approximately $7,076,000. 33.80% of the stock is owned by institutional investors.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company focused on the exploration, development and operation of mines. Its production includes gold, silver, lead and zinc. The company operates mines in Argentina, Burkina Faso, Côte d’Ivoire and Peru. Its assets include the Lindero gold mine in Argentina, the Yaramoko gold mine in Burkina Faso, the Séguéla gold mine in Côte d’Ivoire and the Caylloma silver, lead and zinc mine in Peru. Founded as Fortuna Silver Mines, the company adopted the Fortuna Mining name in 2024 as its business expanded beyond silver.