Fortuna Mining Corp. (NYSE:FSM) Given Consensus Rating of “Hold” by Brokerages

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.00.

Several research analysts have weighed in on FSM shares. CIBC lifted their target price on Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research note on Tuesday, July 15th. National Bankshares reiterated a “sector perform” rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. Finally, Scotiabank lifted their target price on Fortuna Mining from $7.50 to $8.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 6th.

Fortuna Mining Trading Down 0.8%

NYSE:FSM opened at $8.37 on Friday. The stock’s 50 day moving average price is $7.09 and its 200 day moving average price is $6.38. Fortuna Mining has a 52-week low of $4.13 and a 52-week high of $8.64. The company has a market capitalization of $2.57 billion, a PE ratio of 16.73 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The company had revenue of $230.42 million during the quarter, compared to analysts’ expectations of $220.00 million. On average, research analysts anticipate that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Trading of Fortuna Mining

Several hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of 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 buying an additional 2,000 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after buying an additional 2,691 shares during the period. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Fortuna Mining by 2.4% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company’s stock valued at $804,000 after buying an additional 2,887 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Fortuna Mining by 0.9% in the 1st quarter. NewEdge Advisors LLC now owns 383,400 shares of the basic materials company’s stock valued at $2,339,000 after buying an additional 3,600 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

About Fortuna Mining

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.