Fortuna Mining (NYSE:FSM) Raised to Strong-Buy at Wall Street Zen

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently weighed in on FSM. National Bank Financial upgraded shares of Fortuna Mining to a "hold" rating in a research note on Friday, March 21st. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. Scotiabank upped 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. Finally, CIBC upped their target price on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.50.

Fortuna Mining Trading Down 2.0%

FSM traded down $0.13 during trading on Friday, hitting $6.29. 10,362,903 shares of the company's stock were exchanged, compared to its average volume of 11,504,040. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.12. Fortuna Mining has a 1 year low of $3.86 and a 1 year high of $7.55. The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $5.67. The firm has a market cap of $1.93 billion, a P/E ratio of 12.33 and a beta of 0.94.

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

Institutional Trading of Fortuna Mining

Several institutional investors have recently added to or reduced their stakes in the stock. Klein Pavlis & Peasley Financial Inc. raised its holdings in Fortuna Mining by 2.4% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company's stock valued at $804,000 after acquiring an additional 2,887 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Fortuna Mining by 19.3% in the second quarter. Public Employees Retirement System of Ohio now owns 769,736 shares of the basic materials company's stock valued at $5,145,000 after acquiring an additional 124,687 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in Fortuna Mining in the second quarter valued at $42,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Fortuna Mining by 189.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company's stock valued at $5,127,000 after acquiring an additional 549,665 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Fortuna Mining by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company's stock valued at $51,046,000 after acquiring an additional 1,368,600 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

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.

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