Wall Street Zen Downgrades Fortuna Mining (NYSE:FSM) to Hold
by Renee Jackson · The Cerbat GemFortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.
A number of other brokerages also recently issued reports on FSM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Scotiabank lifted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $11.00.
Read Our Latest Analysis on Fortuna Mining
Fortuna Mining Stock Down 0.0%
Shares of Fortuna Mining stock opened at $10.27 on Friday. The firm’s 50 day moving average price is $10.82 and its 200-day moving average price is $10.01. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 52-week low of $5.23 and a 52-week high of $13.85. The company has a market cap of $3.13 billion, a P/E ratio of 11.41 and a beta of 1.01.
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The firm had revenue of $270.20 million during the quarter. On average, sell-side analysts predict that Fortuna Mining will post 1.63 EPS for the current fiscal year.
Institutional Trading of Fortuna Mining
Several large investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Fortuna Mining by 481.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock valued at $1,714,000 after acquiring an additional 158,412 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Fortuna Mining by 26.2% in the 3rd quarter. American Century Companies Inc. now owns 8,032,284 shares of the basic materials company’s stock valued at $71,924,000 after acquiring an additional 1,669,226 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Fortuna Mining in the 3rd quarter valued at $550,000. Quantbot Technologies LP boosted its holdings in shares of Fortuna Mining by 190.4% in the 3rd quarter. Quantbot Technologies LP now owns 465,375 shares of the basic materials company’s stock valued at $4,170,000 after acquiring an additional 305,115 shares during the last quarter. Finally, Causeway Capital Management LLC purchased a new stake in shares of Fortuna Mining in the 3rd quarter valued at $1,038,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.
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.