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

Key Points

• Fortuna Mining was upgraded by Wall Street Zen from “hold” to “strong-buy”, adding to generally positive analyst sentiment on the stock. Overall, the stock now carries a Moderate Buy consensus with an average target price of $11.00.
• The company’s shares were trading up 3.0% at $10.78, near both its 50-day and 200-day moving averages. Fortuna Mining also has a market cap of about $3.28 billion and a relatively low debt-to-equity ratio of 0.11.
• In its latest earnings report, Fortuna Mining missed EPS estimates by $0.02, though revenue came in slightly above expectations at $342.47 million. The company posted a 31.07% net margin and a 16.73% return on equity.

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

FSM has been the subject of a number of other reports. BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a research note on Friday, January 16th. Scotiabank raised their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Finally, Zacks Research cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $11.00.

Fortuna Mining Trading Up 3.0%

Shares of Fortuna Mining stock opened at $10.78 on Friday. Fortuna Mining has a 12-month low of $5.23 and a 12-month high of $13.85. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.28 billion, a PE ratio of 10.17 and a beta of 0.94. The company has a 50-day moving average of $10.54 and a two-hundred day moving average of $10.04.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.73%. The company had revenue of $342.47 million during the quarter, compared to analysts' expectations of $340.00 million. On average, research analysts anticipate that Fortuna Mining will post 1.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FSM. Geneos Wealth Management Inc. increased its stake in shares of Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company's stock worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Fortuna Mining during the third quarter worth approximately $27,000. IFP Advisors Inc acquired a new stake in Fortuna Mining during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its position in 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 acquiring an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in 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 acquiring an additional 3,006 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

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

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