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

Key Points

• Fortuna Mining Corp. has received a consensus rating of "Hold" from six analysts, with one rating it a sell, four a hold, and one a buy.
• Despite a strong revenue report of $230.42 million, Fortuna Mining missed analysts' EPS estimates by $0.08, reporting $0.14 instead of the expected $0.22.
• Various institutional investors significantly increased their stakes in Fortuna Mining, with Osaic Holdings Inc. raising its stake by 96.7% in the second quarter.

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

A number of analysts have recently commented on FSM shares. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. Zacks Research lowered shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. 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. Finally, 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.

Fortuna Mining Trading Up 1.6%

Shares of NYSE:FSM traded up $0.13 on Friday, hitting $7.87. The company had a trading volume of 18,447,988 shares, compared to its average volume of 14,936,283. The firm's 50-day simple moving average is $6.99 and its two-hundred day simple moving average is $6.30. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $8.07. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.75 and a beta of 0.85.

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 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The company had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. Equities analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in 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. Marex Group plc purchased a new position in Fortuna Mining during the second quarter valued at approximately $68,000. Geneos Wealth Management Inc. lifted its holdings in 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. Tower Research Capital LLC TRC lifted its holdings in Fortuna Mining by 1,065.2% during the second quarter. Tower Research Capital LLC TRC now owns 84,781 shares of the basic materials company's stock valued at $554,000 after purchasing an additional 77,505 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in Fortuna Mining by 73.5% during the second quarter. State of Tennessee Department of Treasury now owns 83,752 shares of the basic materials company's stock valued at $547,000 after purchasing an additional 35,469 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company's stock.

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.