CIBC Issues Positive Forecast for Fortuna Mining (NYSE:FSM) Stock Price

Fortuna Mining (NYSE:FSM - Free Report) TSE: FVI had its price target hoisted by CIBC from $7.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an underperformer rating on the basic materials company's stock.

Several other research firms have also recently weighed in on FSM. Scotiabank increased their target price on shares of Fortuna Mining from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. Finally, National Bank Financial raised shares of Fortuna Mining to a "hold" rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.50.

Fortuna Mining Stock Performance

FSM stock traded down $0.20 during mid-day trading on Tuesday, reaching $6.42. 555,877 shares of the stock traded hands, compared to its average volume of 11,403,064. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.12. Fortuna Mining has a 52 week low of $3.86 and a 52 week high of $7.55. The business has a 50-day moving average of $6.35 and a two-hundred day moving average of $5.64. The firm has a market capitalization of $1.97 billion, a PE ratio of 12.64 and a beta of 0.94.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). Fortuna Mining had a net margin of 14.28% and a return on equity of 12.94%. The firm had revenue of $290.15 million for the quarter, compared to the consensus estimate of $291.00 million. As a group, equities analysts predict that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FSM. Optiver Holding B.V. acquired a new stake in shares of Fortuna Mining during the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC acquired a new stake in shares of Fortuna Mining during the second quarter worth approximately $42,000. Virtus Advisers LLC acquired a new stake in shares of Fortuna Mining during the first quarter worth approximately $58,000. PCG Wealth Advisors LLC acquired a new stake in shares of Fortuna Mining during the first quarter worth approximately $61,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Fortuna Mining during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds 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.