Fortuna Mining (NYSE:FSM) Upgraded by Zacks Research to Strong-Buy Rating

by · The Cerbat Gem

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on FSM. Scotiabank increased their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Cibc Captl Mkts upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

View Our Latest Stock Analysis on FSM

Fortuna Mining Price Performance

FSM opened at $10.60 on Tuesday. The company has a fifty day moving average price of $10.16 and a two-hundred day moving average price of $8.73. The firm has a market capitalization of $3.24 billion, a PE ratio of 14.72 and a beta of 0.88. Fortuna Mining has a 52 week low of $4.13 and a 52 week high of $12.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30.

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. The company had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. As a group, analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current year.

Institutional Trading of Fortuna Mining

Large investors have recently bought and sold shares of the business. World Investment Advisors acquired a new stake in Fortuna Mining during the 4th quarter worth approximately $1,415,000. Centric Wealth Management boosted its holdings in shares of Fortuna Mining by 10.0% in the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after buying an additional 1,000 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of Fortuna Mining by 141.9% during the fourth quarter. Swiss Life Asset Management Ltd now owns 33,947 shares of the basic materials company’s stock worth $333,000 after acquiring an additional 19,913 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Fortuna Mining during the fourth quarter worth $74,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Fortuna Mining during the fourth quarter worth $1,239,000. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Company Profile

(Get Free Report)

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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