Fortuna Mining (NYSE:FSM) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• The stock rating for Fortuna Mining has been downgraded from "strong-buy" to "hold" by Wall Street Zen.
• Scotiabank and CIBC both raised their price targets for Fortuna Mining's stock to $8.00, reflecting a moderately positive outlook.
• Fortuna Mining's recent earnings report showed a miss in earnings per share, reporting $0.14 against a consensus estimate of $0.22.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI was downgraded by Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a report on Friday. CIBC upped their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a report on Tuesday, July 15th. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Finally, Scotiabank increased their target price on Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.00.

Fortuna Mining Price Performance

Shares of FSM traded up $0.30 on Friday, reaching $7.32. The stock had a trading volume of 5,306,002 shares, compared to its average volume of 14,825,593. The firm has a market capitalization of $2.25 billion, a PE ratio of 14.59 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $6.71 and a 200 day moving average of $5.96. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $7.55.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last released its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). The firm had revenue of $230.42 million during the quarter, compared to analyst estimates of $220.00 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. Sell-side analysts expect that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Fortuna Mining by 10.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,402,119 shares of the basic materials company's stock valued at $36,043,000 after buying an additional 796,364 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fortuna Mining by 11.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,372,171 shares of the basic materials company's stock worth $50,899,000 after purchasing an additional 859,398 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company's stock worth $51,046,000 after purchasing an additional 1,368,600 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Fortuna Mining by 17.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,340,195 shares of the basic materials company's stock worth $35,779,000 after purchasing an additional 1,219,864 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Fortuna Mining by 40.3% during the 4th quarter. Tidal Investments LLC now owns 7,542,803 shares of the basic materials company's stock worth $32,359,000 after purchasing an additional 2,165,430 shares during the period. 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.