Fortuna Mining Corp. (NYSE:FSM) Receives $8.00 Consensus Target Price from Brokerages

Key Points

• Fortuna Mining Corp. has received an average recommendation of "Hold" from five research firms, with one sell rating, three hold ratings, and one buy rating.
• Recent analyst reports increased Fortuna's price objective to $8.00, with Scotiabank and CIBC both adjusting their ratings and targets.
• The company reported earnings of $0.14 per share for the last quarter, missing estimates of $0.22, despite revenue exceeding expectations at $230.42 million.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI has been given an average rating of "Hold" by the five brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.00.

Several brokerages have commented on FSM. Wall Street Zen lowered shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Scotiabank raised their price objective on shares of Fortuna Mining from $7.50 to $8.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. CIBC raised their price objective 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. Finally, BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th.

Hedge Funds Weigh In On Fortuna Mining

Several large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. lifted its holdings in shares of Fortuna Mining by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 2,440 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company's stock worth $31,000 after acquiring an additional 2,691 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in Fortuna Mining by 2.4% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company's stock worth $804,000 after acquiring an additional 2,887 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Fortuna Mining by 0.9% in the 1st quarter. NewEdge Advisors LLC now owns 383,400 shares of the basic materials company's stock worth $2,339,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Fortuna Mining by 19.3% in the 2nd quarter. Raymond James Financial Inc. now owns 34,836 shares of the basic materials company's stock worth $228,000 after acquiring an additional 5,633 shares during the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Trading Up 0.6%

Shares of NYSE FSM traded up $0.04 during trading hours on Wednesday, hitting $7.30. The company's stock had a trading volume of 15,342,879 shares, compared to its average volume of 11,990,642. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.15 and a current ratio of 2.71. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 14.60 and a beta of 0.85. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $7.55. The business has a 50-day simple moving average of $6.72 and a 200-day simple moving average of $6.01.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.08). The business had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. On average, analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

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.