Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI dropped 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 were traded during mid-day trading, a decline of 12% from the average daily volume of 11,401,800 shares. The stock had previously closed at $6.91.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on FSM shares. Scotiabank increased 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 note on Monday, April 14th. CIBC increased their target price on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research note on Tuesday. National Bank Financial upgraded shares of Fortuna Mining to a "hold" rating in a research note on Friday, March 21st. Finally, National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Fortuna Mining currently has an average rating of "Hold" and an average target price of $7.50.
Check Out Our Latest Report on Fortuna Mining
Fortuna Mining Price Performance
The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 2.04. The company has a 50-day simple moving average of $6.38 and a 200-day simple moving average of $5.66. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 12.58 and a beta of 0.94.
Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last released its quarterly 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 firm had revenue of $290.15 million during 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%. As a group, research analysts predict that Fortuna Mining Corp. will post 0.51 earnings per share for the current year.
Institutional Investors Weigh In On Fortuna Mining
Institutional investors and hedge funds have recently modified their holdings of the company. Optiver Holding B.V. purchased a new stake in Fortuna Mining in the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC purchased a new stake in Fortuna Mining in the 2nd quarter valued at approximately $42,000. Virtus Advisers LLC purchased a new stake in Fortuna Mining in the 1st quarter valued at approximately $58,000. PCG Wealth Advisors LLC purchased a new stake in Fortuna Mining in the 1st quarter valued at approximately $61,000. Finally, Bank of Nova Scotia purchased a new stake in Fortuna Mining in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 33.80% of the company's stock.
About Fortuna Mining
(
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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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