Fortuna Mining Corp. (NYSE:FSM) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Fortuna Mining, with three buys and two holds among five analysts. The average 12-month price target is $14.00, above the reported $8.41 share price.
• Institutional investors have increased exposure to the company, while hedge funds and other institutions collectively own 33.8% of outstanding shares.
• Fortuna Mining’s latest quarterly results were mixed: revenue of $342.47 million exceeded estimates, but earnings per share of $0.35 fell short of the $0.37 consensus forecast.

Shares of Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI have received a consensus rating of "Moderate Buy" from the five analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $14.00.

FSM has been the subject of several research reports. Zacks Research raised shares of Fortuna Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen lowered shares of Fortuna Mining from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings downgraded shares of Fortuna Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FSM. Geneos Wealth Management Inc. lifted its holdings in shares of Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company's stock worth $26,000 after buying an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new stake in Fortuna Mining in the third quarter worth about $27,000. IFP Advisors Inc purchased a new stake in Fortuna Mining in the fourth quarter worth about $29,000. 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. Finally, Osaic Holdings Inc. increased its position in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 3,006 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Stock Down 1.7%

NYSE:FSM opened at $8.41 on Wednesday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 7.93 and a beta of 0.99. Fortuna Mining has a twelve month low of $6.17 and a twelve month high of $13.85. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $8.85 and a 200-day simple moving average of $10.02.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). The company had revenue of $342.47 million during the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. Analysts anticipate that Fortuna Mining will post 1.32 EPS 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.

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