Fortuna Mining (NYSE:FSM) Hits New 52-Week High - Time to Buy?

Key Points

• Fortuna Mining Corp. (NYSE:FSM) has reached a new 52-week high, trading at $8.07, with a recent price of $7.80 and a high trading volume of over 16 million shares.
• Analysts have mixed ratings for Fortuna Mining, with one "Buy," four "Hold," and one "Sell," while the consensus target price is set at $8.00.
• In its latest earnings report, Fortuna Mining posted $0.14 EPS, falling short of analysts' expectations of $0.22, but exceeding revenue estimates with $230.42 million.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.07 and last traded at $7.80, with a volume of 16297855 shares trading hands. The stock had previously closed at $7.78.

Analyst Ratings Changes

Several analysts recently issued reports on FSM shares. Wall Street Zen cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. CIBC increased their price objective on shares of 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 reaffirmed a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. Zacks Research cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.00.

Fortuna Mining Trading Up 0.9%

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. The business's 50 day simple moving average is $6.95 and its 200 day simple moving average is $6.25. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.57 and a beta of 0.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last issued its quarterly earnings results 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 return on equity of 12.74% and a net margin of 14.36%.The firm had revenue of $230.42 million for the quarter, compared to analyst estimates of $220.00 million. Research analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Institutional Trading of Fortuna Mining

A number of institutional investors have recently added to or reduced their stakes in FSM. Geneos Wealth Management Inc. boosted its stake in Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company's stock worth $31,000 after buying an additional 2,691 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Fortuna Mining by 2.4% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company's stock worth $804,000 after buying an additional 2,887 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company's stock worth $40,000 after acquiring an additional 3,006 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Fortuna Mining by 0.9% in the 1st quarter. NewEdge Advisors LLC now owns 383,400 shares of the basic materials company's stock worth $2,339,000 after acquiring an additional 3,600 shares during the period. Hedge funds and other 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.