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

Key Points

• Fortuna Mining has a “Moderate Buy” consensus rating from five brokerages, with three buys and two holds. The average 12-month price target is $14.00, compared with a share price of $12.08.
• The company reported quarterly EPS of $0.24, below the $0.29 analyst consensus, while revenue of $318.41 million also missed estimates of $325 million. Fortuna posted a 31.99% net margin and 17.48% return on equity.
• Institutional ownership stands at 33.80%, with major investors including Arrowstreet Capital, Vanguard, Mirae Asset, Invesco and Tidal Investments increasing their positions during the latest quarter.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI has received an average rating of "Moderate Buy" from the five ratings firms that are presently covering the stock, Marketbeat reports. Two equities 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 target among brokerages that have covered the stock in the last year is $14.00.

Several equities research analysts recently weighed in on FSM shares. Scotiabank restated an "outperform" rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings downgraded Fortuna Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, June 18th. Wall Street Zen downgraded Fortuna Mining from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th. Finally, Zacks Research raised Fortuna Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th.

Fortuna Mining Stock Performance

Fortuna Mining stock opened at $12.08 on Friday. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.58 billion, a PE ratio of 10.24 and a beta of 1.01. The firm has a fifty day simple moving average of $9.18 and a two-hundred day simple moving average of $9.95. Fortuna Mining has a twelve month low of $7.25 and a twelve month high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. The firm had revenue of $318.41 million for the quarter, compared to the consensus estimate of $325.00 million. Research analysts expect that Fortuna Mining will post 1.24 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of FSM. Arrowstreet Capital Limited Partnership increased its stake in shares of Fortuna Mining by 80.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company's stock valued at $174,866,000 after purchasing an additional 8,706,611 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Fortuna Mining by 1,623.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company's stock worth $40,844,000 after purchasing an additional 4,297,370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fortuna Mining by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company's stock worth $122,747,000 after buying an additional 3,779,920 shares during the last quarter. Invesco Ltd. increased its position in Fortuna Mining by 1,130.8% during the 3rd quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company's stock valued at $27,944,000 after buying an additional 2,865,367 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Fortuna Mining by 31.4% during the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company's stock valued at $80,169,000 after buying an additional 2,138,143 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.

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