Fortuna Mining (NYSE:FSM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Fortuna Mining (NYSE:FSM) from a "buy" to a "hold" in a research note issued Saturday.
• Despite the downgrade, the stock's consensus remains a "Buy" with a $11.00 consensus price target and several firms (Zacks, Weiss, BMO, Scotiabank) maintaining or raising positive ratings, with Scotiabank lifting its target to $14.00.
• Fortuna reported quarterly EPS of $0.22 (missing estimates by $0.01) on $270.2 million in revenue; the stock trades near $10.27 with a market cap of about $3.13 billion and a PE of 11.41.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities analysts have also commented on FSM. Zacks Research upgraded Fortuna Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Fortuna Mining in a research note on Monday, December 29th. BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Scotiabank lifted their price objective on Fortuna Mining from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $11.00.

Fortuna Mining Trading Up 1.4%

Fortuna Mining stock opened at $10.27 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. The business's 50-day simple moving average is $10.82 and its 200-day simple moving average is $10.00. The firm has a market capitalization of $3.13 billion, a PE ratio of 11.41 and a beta of 1.01. Fortuna Mining has a 52 week low of $5.23 and a 52 week high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $270.20 million during the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. Equities research analysts forecast that Fortuna Mining will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors have recently added to or reduced their stakes in FSM. Royal Bank of Canada grew its position in Fortuna Mining by 98.8% during the first quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company's stock worth $7,074,000 after buying an additional 576,264 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company's stock worth $51,046,000 after buying an additional 1,368,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Fortuna Mining by 189.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company's stock worth $5,127,000 after buying an additional 549,665 shares in the last quarter. Geode Capital Management LLC grew its position in Fortuna Mining by 3.9% during the second quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company's stock worth $1,123,000 after buying an additional 6,405 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Fortuna Mining during the second quarter worth about $122,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.

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