Scotiabank Reduces Earnings Estimates for Fortuna Mining

Key Points

• Scotiabank cut its FY2026 EPS estimate for Fortuna Mining to $1.32 from $1.36, slightly below the current consensus estimate of $1.36 per share.
• The stock was down 2.4% in Friday trading, opening at $8.40, well below its 52-week high of $13.85.
• Recent analyst sentiment is mixed, with Fortuna Mining holding a Moderate Buy consensus and a $14.00 target price, while several firms have recently upgraded or downgraded the stock.

Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI - Scotiabank reduced their FY2026 earnings per share estimates for Fortuna Mining in a research note issued on Thursday, July 23rd. Scotiabank analyst E. Winmill now expects that the basic materials company will post earnings of $1.32 per share for the year, down from their prior estimate of $1.36. The consensus estimate for Fortuna Mining's current full-year earnings is $1.36 per share.

Other analysts have also issued reports about the stock. Zacks Research raised shares of Fortuna Mining from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Fortuna Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Finally, Wall Street Zen lowered shares of Fortuna Mining from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Fortuna Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Fortuna Mining Trading Down 2.4%

NYSE:FSM opened at $8.40 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. Fortuna Mining has a fifty-two week low of $6.17 and a fifty-two week high of $13.85. The stock's 50-day moving average is $8.90 and its two-hundred day moving average is $10.05. The stock has a market cap of $2.52 billion, a PE ratio of 7.93 and a beta of 0.99.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The business had revenue of $342.47 million for the quarter, compared to analyst estimates of $340.00 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. raised its stake in shares of Fortuna Mining by 20.3% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 151,500 shares of the basic materials company's stock worth $1,280,000 after purchasing an additional 25,600 shares in the last quarter. Groupe la Francaise grew its stake in shares of Fortuna Mining by 47.2% in the 1st quarter. Groupe la Francaise now owns 1,023,380 shares of the basic materials company's stock valued at $10,141,000 after buying an additional 328,380 shares in the last quarter. Bank of America Corp DE increased its holdings in Fortuna Mining by 9.8% in the first quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company's stock worth $28,363,000 after buying an additional 255,336 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Fortuna Mining by 52.8% in the first quarter. EverSource Wealth Advisors LLC now owns 8,195 shares of the basic materials company's stock worth $81,000 after buying an additional 2,832 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Fortuna Mining by 33.1% in the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company's stock worth $13,849,000 after buying an additional 346,716 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.