Fortuna Mining (NYSE:FSM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research note published on Monday morning.

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

Fortuna Mining Price Performance

Shares of FSM opened at $9.60 on Monday. The business’s fifty day moving average is $8.82 and its 200 day moving average is $7.79. Fortuna Mining has a 12-month low of $4.13 and a 12-month high of $10.38. The company has a quick ratio of 2.73, a current ratio of 3.30 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.95 billion, a P/E ratio of 13.33 and a beta of 0.95.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data 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 analyst estimates of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. Sell-side analysts anticipate that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in shares of Fortuna Mining by 38.7% in the 1st quarter. Invesco Ltd. now owns 2,692,091 shares of the basic materials company’s stock worth $16,422,000 after buying an additional 751,343 shares during the last quarter. Nuveen LLC bought a new stake in Fortuna Mining in the first quarter worth about $17,032,000. Russell Investments Group Ltd. boosted its stake in Fortuna Mining by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 935,099 shares of the basic materials company’s stock valued at $5,701,000 after acquiring an additional 117,228 shares during the last quarter. American Century Companies Inc. grew its position in shares of Fortuna Mining by 17.7% during the 1st quarter. American Century Companies Inc. now owns 5,928,763 shares of the basic materials company’s stock valued at $36,075,000 after acquiring an additional 889,933 shares during the period. Finally, Northwest & Ethical Investments L.P. increased its stake in shares of Fortuna Mining by 799.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 181,592 shares of the basic materials company’s stock worth $1,105,000 after purchasing an additional 161,399 shares during the last quarter. 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.