Fortuna Mining Corp. (NYSE:FSM) Stock Has Consensus Target Price of $14.00

Key Points

• Analyst sentiment is moderately positive: Four of five covering analysts rate Fortuna Mining a buy, and the average 12-month price target is $14.00; one analyst recommends holding.
• Quarterly earnings beat expectations: Fortuna reported EPS of $0.17 versus the $0.14 consensus, while revenue of $289.78 million matched estimates.
• Shares opened at $9.46, within a 52-week range of $7.86–$13.85. Institutional investors and hedge funds own 33.8% of the company’s stock.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI has been given an average rating of "Moderate Buy" by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.00.

FSM has been the topic of several research analyst reports. Weiss Ratings downgraded Fortuna Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, October 26th. Scotiabank reissued an "outperform" rating on shares of Fortuna Mining in a report on Thursday, July 30th. Zacks Research upgraded Fortuna Mining from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded Fortuna Mining from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th.

Hedge Funds Weigh In On Fortuna Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Fortuna Mining during the 2nd quarter valued at about $7,076,000. Dimensional Fund Advisors LP lifted its holdings in shares of Fortuna Mining by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company's stock valued at $105,576,000 after buying an additional 567,558 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Fortuna Mining in the 1st quarter valued at about $3,607,000. Royal Bank of Canada lifted its holdings in shares of Fortuna Mining by 33.1% in the 1st quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company's stock valued at $13,849,000 after buying an additional 346,716 shares during the period. Finally, Groupe la Francaise boosted its stake in shares of Fortuna Mining by 47.2% in the first quarter. Groupe la Francaise now owns 1,023,380 shares of the basic materials company's stock worth $10,141,000 after buying an additional 328,380 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Mining Price Performance

Shares of FSM opened at $9.46 on Friday. The firm has a market capitalization of $2.80 billion, a PE ratio of 9.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50. Fortuna Mining has a 1-year low of $7.86 and a 1-year high of $13.85. The company's fifty day moving average price is $10.97 and its 200-day moving average price is $10.30.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last issued its earnings results on Wednesday, November 4th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Fortuna Mining had a return on equity of 17.19% and a net margin of 24.70%. The company had revenue of $289.78 million during the quarter, compared to analyst estimates of $289.78 million. On average, equities research analysts predict that Fortuna Mining will post 1.06 EPS for the current year.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company's portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna's operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d'Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.

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