Fortuna Mining (NYSE:FSM) Raised to Hold at Cibc Captl Mkts

by · The Cerbat Gem

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) was upgraded by analysts at Cibc Captl Mkts from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Scotiabank lifted their target price 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

View Our Latest Analysis on Fortuna Mining

Fortuna Mining Price Performance

Shares of FSM stock traded down $0.82 on Tuesday, reaching $9.76. 11,676,676 shares of the company were exchanged, compared to its average volume of 9,089,404. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.55 and a beta of 0.88. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $12.54. The business has a 50-day moving average price of $10.16 and a 200 day moving average price of $8.73. 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 issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The firm had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. Equities research analysts forecast that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FSM. Geneos Wealth Management Inc. raised its position in Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Fortuna Mining in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in Fortuna Mining by 126.8% in 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. Osaic Holdings Inc. grew its holdings in Fortuna Mining by 96.7% during the 2nd 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 in the last quarter. Finally, Employees Retirement System of Texas increased its position in shares of Fortuna Mining by 1,250.0% in the 3rd quarter. Employees Retirement System of Texas now owns 7,263 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 6,725 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

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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