Fortuna Mining Corp. (FSM) - What Are Brokerages Thinking About This Stock?

Key Points

• Analysts maintain a moderately bullish view: Fortuna Mining has a consensus “Moderate Buy” rating, with four buys and one hold. The average 12-month price target is $14.00, above the reported share price of $10.91.
• Institutional ownership is significant: Hedge funds and other institutional investors own 33.8% of the company, with several firms recently increasing their positions or initiating new stakes.
• Latest quarterly results fell short of expectations: Fortuna reported earnings of $0.24 per share versus the $0.29 consensus estimate and revenue of $318.4 million versus expectations of $325 million, though the company posted a 31.99% net margin and analysts expect $1.24 in full-year EPS.

Shares of Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.00.

A number of equities research analysts have recently weighed in on FSM shares. Weiss Ratings raised Fortuna Mining from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. Wall Street Zen downgraded Fortuna Mining from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Scotiabank reissued an "outperform" rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Finally, Zacks Research upgraded Fortuna Mining from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th.

Institutional Trading of Fortuna Mining

A number of institutional investors and hedge funds have recently bought and sold shares of FSM. Banque Cantonale Vaudoise lifted its holdings in Fortuna Mining by 1,001.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,553 shares of the basic materials company's stock worth $65,000 after buying an additional 5,958 shares in the last quarter. Bullock Wealth Management Group acquired a new position in shares of Fortuna Mining in the third quarter worth $69,000. EverSource Wealth Advisors LLC grew its stake in shares of Fortuna Mining by 52.8% in the first quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company's stock worth $81,000 after acquiring an additional 2,832 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Fortuna Mining by 15.1% in the second quarter. Integrated Wealth Concepts LLC now owns 12,729 shares of the basic materials company's stock worth $108,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in shares of Fortuna Mining in the third quarter worth $108,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Stock Performance

NYSE:FSM opened at $10.91 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00. The stock has a market capitalization of $3.23 billion, a P/E ratio of 9.25 and a beta of 1.05. The company has a 50 day moving average price of $11.39 and a 200 day moving average price of $10.08. Fortuna Mining has a fifty-two week low of $7.69 and a fifty-two week high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. The company had revenue of $318.41 million during the quarter, compared to analyst estimates of $325.00 million. Equities research analysts forecast that Fortuna Mining will post 1.24 EPS for the current year.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company formerly known as Fortuna Silver Mines Inc The company explores, develops, and operates mines producing gold and silver, with activities spanning Latin America and West Africa.

Fortuna's operating portfolio includes the Lindero gold mine in Argentina, the Séguéla gold mine in Côte d'Ivoire, the Yaramoko gold mine in Burkina Faso, and the Caylloma silver mine in Peru. The company also conducts mineral exploration and resource development in the regions surrounding its operations.

Founded in 2004, Fortuna initially focused on silver mining in Latin America before expanding into gold production and broadening its geographic presence.

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