Brokers Issue Forecasts for Fortuna Mining FY2025 Earnings

Key Points

• National Bank Financial has reduced its FY2025 earnings per share estimate for Fortuna Mining from $0.88 to $0.74, while the consensus estimate is currently $0.51 per share.
• Despite the earnings downgrade, Scotiabank and CIBC have increased their price targets for Fortuna Mining from $7.50 to $8.00.
• Fortuna Mining reported a quarterly EPS of $0.14, missing the consensus estimate of $0.22, while revenues reached $230.42 million, exceeding expectations.

Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI - Equities researchers at National Bank Financial reduced their FY2025 earnings per share estimates for Fortuna Mining in a note issued to investors on Sunday, August 10th. National Bank Financial analyst M. Sidibe now anticipates that the basic materials company will earn $0.74 per share for the year, down from their previous forecast of $0.88. The consensus estimate for Fortuna Mining's current full-year earnings is $0.51 per share. National Bank Financial also issued estimates for Fortuna Mining's FY2026 earnings at $0.82 EPS.

Several other equities analysts also recently weighed in on FSM. Wall Street Zen downgraded Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Scotiabank increased their target price on Fortuna Mining from $7.50 to $8.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. CIBC increased their target price on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research report on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, August 8th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.00.

Fortuna Mining Price Performance

Shares of NYSE:FSM traded up $0.04 on Wednesday, hitting $7.30. The company had a trading volume of 15,342,879 shares, compared to its average volume of 11,990,642. The business has a 50 day moving average of $6.72 and a 200 day moving average of $6.01. Fortuna Mining has a 52-week low of $4.13 and a 52-week high of $7.55. The company has a market cap of $2.24 billion, a PE ratio of 14.60 and a beta of 0.85. 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 data on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The company had revenue of $230.42 million during the quarter, compared to analysts' expectations of $220.00 million.

Hedge Funds Weigh In On Fortuna Mining

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 2,691 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Fortuna Mining in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Fortuna Mining in the second quarter valued at about $42,000. Virtus Advisers LLC acquired a new stake in shares of Fortuna Mining in the first quarter valued at about $58,000. Finally, PCG Wealth Advisors LLC acquired a new stake in shares of Fortuna Mining in the first quarter valued at about $61,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

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.