Wall Street Zen Downgrades Fortuna Mining (NYSE:FSM) to Hold

by · The Cerbat Gem

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Monday.

FSM has been the topic of several other reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 8th. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Scotiabank raised Fortuna Mining from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $10.50 to $11.00 in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Fortuna Mining currently has a consensus rating of “Hold” and an average price target of $9.50.

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Fortuna Mining Price Performance

Fortuna Mining stock opened at $9.53 on Monday. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.92 billion, a P/E ratio of 13.23 and a beta of 0.95. The business has a 50-day moving average of $8.83 and a 200-day moving average of $7.81. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $10.38.

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last announced 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 firm had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. On average, equities analysts anticipate that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of FSM. Swiss Life Asset Management Ltd acquired a new position in shares of Fortuna Mining during the 3rd quarter worth approximately $126,000. Advisory Services Network LLC bought a new position in shares of Fortuna Mining in the third quarter valued at $27,000. NewEdge Advisors LLC increased its holdings in Fortuna Mining by 2.1% during the third quarter. NewEdge Advisors LLC now owns 198,815 shares of the basic materials company’s stock worth $1,781,000 after buying an additional 4,100 shares during the last quarter. PharVision Advisers LLC acquired a new position in Fortuna Mining during the third quarter worth $227,000. Finally, XTX Topco Ltd raised its position in Fortuna Mining by 75.8% during the third quarter. XTX Topco Ltd now owns 145,707 shares of the basic materials company’s stock worth $1,306,000 after acquiring an additional 62,818 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Company Profile

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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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