Fortuna Mining Corp. (NYSE:FSM) Given Consensus Recommendation of "Hold" by 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 assigned an average rating of "Hold" from the five research firms that are covering the firm, MarketBeat reports. One 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 price target among brokerages that have issued a report on the stock in the last year is $8.00.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, August 8th. Scotiabank lifted their price objective on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. CIBC lifted their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSM. EverSource Wealth Advisors LLC grew its holdings in Fortuna Mining by 126.8% during 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 in the last quarter. Optiver Holding B.V. acquired a new position in Fortuna Mining during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new position in Fortuna Mining during the 2nd quarter worth approximately $42,000. Virtus Advisers LLC acquired a new position in Fortuna Mining during the 1st quarter worth approximately $58,000. Finally, PCG Wealth Advisors LLC acquired a new position in Fortuna Mining during the 1st quarter worth approximately $61,000. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Mining Trading Up 0.6%

Shares of FSM traded up $0.04 during trading on Wednesday, reaching $7.30. 15,342,879 shares of the company traded hands, compared to its average volume of 14,911,593. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $7.55. The stock has a market cap of $2.24 billion, a PE ratio of 14.60 and a beta of 0.85. The stock has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $5.99. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

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

About Fortuna Mining

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.