Fortuna Mining (NYSE:FSM) Upgraded to “Hold” at Cibc Captl Mkts

by · The Markets Daily

Cibc Captl Mkts upgraded shares of Fortuna Mining (NYSE:FSM – Free Report) (TSE:FVI) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. National Bankshares upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Canadian Imperial Bank of Commerce upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Scotiabank increased their target price on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Fortuna Mining presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Check Out Our Latest Stock Analysis on FSM

Fortuna Mining Stock Performance

Shares of NYSE:FSM traded up $0.66 during midday trading on Tuesday, hitting $10.41. The company’s stock had a trading volume of 6,472,276 shares, compared to its average volume of 8,957,486. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The stock’s 50 day simple moving average is $10.16 and its 200 day simple moving average is $8.74. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 14.46 and a beta of 0.88. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $12.54.

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

Institutional Trading of Fortuna Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in Fortuna Mining by 43.5% during the third quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after purchasing an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Fortuna Mining by 80.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock worth $174,866,000 after buying an additional 8,706,611 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fortuna Mining by 1,623.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock worth $40,844,000 after buying an additional 4,297,370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after buying an additional 3,779,920 shares during the period. Finally, Invesco Ltd. boosted its stake in Fortuna Mining by 1,130.8% in the 3rd quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company’s stock valued at $27,944,000 after buying an additional 2,865,367 shares in the last quarter. Institutional investors own 33.80% of the company’s stock.

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.

Read More