Fortuna Mining (NYSE:FSM) Stock Price Up 4.5% - Here's Why

Key Points

• Fortuna Mining's stock price increased by 4.5% to $9.07, with a trading volume significantly below the average.
• Analysts are mixed on Fortuna Mining, with one Buy rating, four Holds, and one Sell, while the average price target has been set at $8.00.
• The company reported a net margin of 14.36% and a miss on EPS expectations, posting $0.14 against a consensus estimate of $0.22.

Fortuna Mining Corp. (NYSE:FSM - Get Free Report) TSE: FVI's share price was up 4.5% on Tuesday . The stock traded as high as $9.02 and last traded at $9.07. Approximately 1,355,744 shares were traded during trading, a decline of 91% from the average daily volume of 15,535,308 shares. The stock had previously closed at $8.68.

Analyst Ratings Changes

Several analysts have recently commented on FSM shares. Scotiabank lifted their price target on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. Zacks Research cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a research note on Friday, August 8th. Wall Street Zen cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, CIBC upped their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.00.

Fortuna Mining Stock Up 4.0%

The stock has a market cap of $2.77 billion, a PE ratio of 18.04 and a beta of 0.85. The firm has a fifty day moving average of $7.47 and a 200 day moving average of $6.66. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The business had revenue of $230.42 million during the quarter, compared to analysts' expectations of $220.00 million. On average, equities research analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in shares of Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company's stock worth $26,000 after buying an additional 2,000 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Fortuna Mining by 126.8% during the second 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 period. Osaic Holdings Inc. boosted its stake in shares of Fortuna Mining by 96.7% during the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company's stock worth $40,000 after buying an additional 3,006 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of Fortuna Mining during the second quarter worth about $42,000. Finally, Virtus Advisers LLC acquired a new stake in shares of Fortuna Mining during the first quarter worth about $58,000. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Mining Company Profile

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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