Fortuna Mining Corp. (NYSE:FSM) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Fortuna Mining (NYSE:FSM) has an average analyst recommendation of Buy (four buys, one strong buy) with a 1‑year average target price of $11.00.
• Recent analyst activity includes Zacks upgrading to strong‑buy, Wall Street Zen upgrading to buy, and Scotiabank raising its price target to $14 and assigning an outperform rating, while BMO and Weiss reiterated positive ratings.
• Trading and fundamentals: market cap ~$3.32B, P/E 12.08, opened at $10.87 with a 12‑month range of $5.23–$13.85; last quarter EPS was $0.22 (missed by $0.01) on $270.2M revenue, and institutions own ~33.8% of the stock.

Shares of Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI have earned an average recommendation of "Buy" from the five research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.00.

FSM has been the subject of a number of analyst reports. Zacks Research upgraded Fortuna Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Fortuna Mining in a research report on Monday, December 29th. Scotiabank boosted their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an "outperform" rating in a research report on Monday, January 26th. Wall Street Zen upgraded Fortuna Mining from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, January 16th.

Institutional Trading of Fortuna Mining

A number of hedge funds and other institutional investors have recently modified their holdings of FSM. Geneos Wealth Management Inc. raised its stake 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 in the last quarter. Advisory Services Network LLC bought a new stake in shares of Fortuna Mining in the 3rd quarter worth $27,000. IFP Advisors Inc bought a new stake in shares of Fortuna Mining in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company's stock worth $40,000 after buying an additional 3,006 shares in the last quarter. Institutional investors own 33.80% of the company's stock.

Fortuna Mining Trading Up 0.1%

NYSE:FSM opened at $10.87 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. Fortuna Mining has a 12-month low of $5.23 and a 12-month high of $13.85. The business has a 50 day simple moving average of $10.89 and a 200 day simple moving average of $9.97. The firm has a market capitalization of $3.32 billion, a P/E ratio of 12.08 and a beta of 1.01.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The business had revenue of $270.20 million for the quarter. Equities research analysts predict that Fortuna Mining will post 0.51 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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