Fortuna Mining (NYSE:FSM) Stock Rating Lowered by 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 investment analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Scotiabank raised their target price on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. CIBC increased their price objective on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research report on Tuesday, July 15th. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.00.

Fortuna Mining Price Performance

Shares of FSM stock traded up $0.27 during trading hours on Friday, reaching $7.01. 9,951,624 shares of the company were exchanged, compared to its average volume of 14,884,866. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $7.55. The stock's fifty day moving average is $6.70 and its two-hundred day moving average is $5.95. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 14.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15.

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 analysts' consensus estimates of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The firm had revenue of $230.42 million for the quarter, compared to analyst estimates of $220.00 million. Sell-side analysts forecast that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in Fortuna Mining during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC bought a new position in shares of Fortuna Mining during the second quarter valued at about $42,000. Virtus Advisers LLC bought a new position in Fortuna Mining in the first quarter worth about $58,000. PCG Wealth Advisors LLC bought a new position in Fortuna Mining in the first quarter worth about $61,000. Finally, Bank of Nova Scotia bought a new position in Fortuna Mining in the fourth quarter worth about $46,000. Institutional investors own 33.80% of the company's stock.

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.