Fortuna Mining Corp. (NYSE:FSM) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Fortuna Mining Corp. has received a consensus recommendation of "Hold" from six brokerages, with one sell rating, four hold ratings, and one buy rating.
• The average 12-month target price for Fortuna Mining shares is $8.00, as adjusted by analysts.
• Fortuna reported a net margin of 14.36% and earnings per share of $0.14 for the last quarter, below the consensus estimate of $0.22.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI has been assigned an average recommendation of "Hold" from the six brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.00.

A number of equities analysts have commented on FSM shares. CIBC upped their target price on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research note on Tuesday, July 15th. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th.

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 2,691 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Fortuna Mining by 96.7% during the second 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 in the last quarter. Farther Finance Advisors LLC bought a new position in shares of Fortuna Mining during the second quarter valued at approximately $42,000. Finally, Virtus Advisers LLC bought a new position in shares of Fortuna Mining during the first quarter valued at approximately $58,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Stock Performance

Shares of NYSE:FSM opened at $8.90 on Thursday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.79 and a beta of 0.84. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $9.26. The firm's 50-day moving average is $7.55 and its 200 day moving average is $6.69. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13.

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

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