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Fortuna Mining (NYSE:FSM) Stock Price Down 4.7% - Should You Sell?

Fortuna Mining logo with Basic Materials background

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI shares were down 4.7% during mid-day trading on Monday . The stock traded as low as $6.61 and last traded at $6.59. Approximately 10,037,988 shares changed hands during trading, a decline of 12% from the average daily volume of 11,401,800 shares. The stock had previously closed at $6.91.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FSM shares. National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. Scotiabank boosted their target price on shares of Fortuna Mining from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Finally, National Bank Financial raised shares of Fortuna Mining to a "hold" rating in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Fortuna Mining has a consensus rating of "Hold" and an average target price of $7.00.

Read Our Latest Stock Report on Fortuna Mining

Fortuna Mining Stock Down 4.7%

The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 12.91 and a beta of 0.94. The firm's fifty day moving average is $6.33 and its 200-day moving average is $5.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The business had revenue of $290.15 million for the quarter, compared to analyst estimates of $291.00 million. Fortuna Mining had a return on equity of 12.94% and a net margin of 14.28%. On average, sell-side analysts predict that Fortuna Mining Corp. will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Fortuna Mining

Several large investors have recently bought and sold shares of the stock. Optiver Holding B.V. bought a new stake in shares of Fortuna Mining in the 4th quarter worth about $26,000. Farther Finance Advisors LLC bought a new stake in shares of Fortuna Mining in the 2nd quarter worth about $42,000. Bank of Nova Scotia bought a new stake in shares of Fortuna Mining in the 4th quarter worth about $46,000. TD Waterhouse Canada Inc. grew its holdings in shares of Fortuna Mining by 24.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Fortuna Mining in the 4th quarter worth about $57,000. Institutional investors and hedge funds own 33.80% of the company's stock.

About Fortuna Mining

(Get Free Report)

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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