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

Key Points

• Consensus "Buy": Five analysts average a Buy rating on Fortuna Mining (four buys, one strong buy) with a mean 1‑year price target of $11, and recent upgrades include Scotiabank lifting its target to $14 and Zacks moving to a strong‑buy.
• Institutional buying has increased materially — Mackenzie Financial boosted its stake by 330% to 1,761,664 shares and overall institutional/hedge fund ownership stands at 33.8%.
• Fundamentals and stock metrics: Fortuna reported Q4 EPS of $0.22 (missed by $0.01) on $270.2M revenue, and the stock trades near $9.49 with a market cap of $2.90B and a P/E of 10.54.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI has earned an average rating of "Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.00.

A number of equities research analysts recently commented on FSM shares. BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, January 16th. Weiss Ratings reissued a "buy (b)" rating on shares of Fortuna Mining in a research report on Monday, December 29th. Scotiabank lifted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Fortuna Mining from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Finally, Zacks Research upgraded shares of Fortuna Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd.

Institutional Investors Weigh In On Fortuna Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. World Investment Advisors purchased a new position in shares of Fortuna Mining during the 4th quarter valued at about $1,415,000. Alberta Investment Management Corp boosted its stake in shares of Fortuna Mining by 18.7% in the fourth quarter. Alberta Investment Management Corp now owns 313,600 shares of the basic materials company's stock worth $3,073,000 after buying an additional 49,300 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Fortuna Mining by 330.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,761,664 shares of the basic materials company's stock worth $17,509,000 after buying an additional 1,352,016 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Fortuna Mining by 6.3% during the fourth quarter. NewEdge Advisors LLC now owns 211,355 shares of the basic materials company's stock worth $2,073,000 after acquiring an additional 12,540 shares during the period. Finally, Voloridge Investment Management LLC raised its position in Fortuna Mining by 6.7% during the fourth quarter. Voloridge Investment Management LLC now owns 2,221,012 shares of the basic materials company's stock valued at $21,788,000 after acquiring an additional 138,932 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Stock Performance

Shares of FSM opened at $9.49 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. The stock has a 50-day moving average of $11.07 and a two-hundred day moving average of $9.73. The stock has a market cap of $2.90 billion, a P/E ratio of 10.54 and a beta of 0.82. Fortuna Mining has a one year low of $5.13 and a one year high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million during the quarter. As a group, 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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