Fortuna Mining (NYSE:FSM) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• EPS miss: Fortuna reported quarterly EPS of $0.35, missing the consensus estimate by $0.02.
• Stock rallied 6.1%: Shares jumped to $10.44 on heavy volume (~13.1M vs. average 4.73M), with a market cap of $3.18B and a PE of 9.85.
• Institutional investors boosted holdings (e.g., Mackenzie +330%, Alberta Investment Management +18.7%), and analysts show a consensus "Moderate Buy" with a $11 price target while some firms raised targets to $14 and others downgraded to Hold.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI posted its quarterly earnings results on Wednesday. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02), Zacks reports. Fortuna Mining had a return on equity of 16.73% and a net margin of 31.07%.

Fortuna Mining Stock Up 6.1%

NYSE:FSM traded up $0.60 during mid-day trading on Thursday, reaching $10.44. The company's stock had a trading volume of 13,067,292 shares, compared to its average volume of 4,727,752. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 1 year low of $5.23 and a 1 year high of $13.85. The stock has a fifty day moving average of $10.54 and a 200-day moving average of $10.04. The firm has a market capitalization of $3.18 billion, a PE ratio of 9.85 and a beta of 0.94.

Institutional Investors Weigh In On Fortuna Mining

Several large investors have recently modified their holdings of FSM. Alberta Investment Management Corp boosted its stake in shares of Fortuna Mining by 18.7% during the fourth quarter. Alberta Investment Management Corp now owns 313,600 shares of the basic materials company's stock valued at $3,073,000 after purchasing an additional 49,300 shares in the last quarter. Mackenzie Financial Corp raised its stake in 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 in the last quarter. NewEdge Advisors LLC raised its stake in Fortuna Mining by 6.3% in the fourth quarter. NewEdge Advisors LLC now owns 211,355 shares of the basic materials company's stock worth $2,073,000 after buying an additional 12,540 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings 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 worth $21,788,000 after buying an additional 138,932 shares during the period. Finally, SPWM Advisors LLC purchased a new stake in Fortuna Mining during the fourth quarter worth $98,000. Institutional investors own 33.80% of the company's stock.

Analyst Upgrades and Downgrades

FSM has been the topic of a number of research analyst reports. Scotiabank upped their target price on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Wall Street Zen lowered Fortuna Mining from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

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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