Fortuna Mining (NYSE:FSM) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.44 and traded as high as $6.57. Fortuna Mining shares last traded at $6.49, with a volume of 12,484,185 shares trading hands.

Analyst Upgrades and Downgrades

FSM has been the subject of a number of recent research reports. National Bank Financial raised Fortuna Mining to a "hold" rating in a research note on Friday, March 21st. National Bankshares reaffirmed a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday. Finally, Scotiabank lifted 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. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Fortuna Mining Trading Down 3.8%

The business has a 50-day moving average of $6.23 and a two-hundred day moving average of $5.46. The company has a quick ratio of 1.56, a current ratio of 2.04 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 12.50 and a beta of 0.93.

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 company had revenue of $290.15 million for the quarter, compared to analyst estimates of $291.00 million. Research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in Fortuna Mining during the 4th quarter valued at $26,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Fortuna Mining during the fourth quarter worth $34,000. Bank of Nova Scotia acquired a new stake in shares of Fortuna Mining in the fourth quarter valued at $46,000. TD Waterhouse Canada Inc. raised its holdings in shares of Fortuna Mining by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after buying an additional 2,440 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Fortuna Mining during the 4th quarter worth about $57,000. 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.