Fortuna Mining (NYSE:FSM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other equities research analysts also recently weighed in on the company. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Scotiabank raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $10.50 to $11.00 in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 15th. 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, the company presently has an average rating of “Hold” and an average price target of $9.50.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $10.10 on Tuesday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 14.02 and a beta of 0.95. Fortuna Mining has a 52-week low of $4.13 and a 52-week 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 company’s 50 day moving average is $8.94 and its 200 day moving average is $7.95.

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

Institutional Investors Weigh In On Fortuna Mining

A number of large investors have recently modified their holdings of FSM. Kiker Wealth Management LLC lifted its stake in Fortuna Mining by 4,200.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock valued at $197,000 after acquiring an additional 29,402 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Fortuna Mining by 44.8% during the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after purchasing an additional 2,171,847 shares during the last quarter. American Century Companies Inc. lifted its position in Fortuna Mining by 7.3% during the second quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after purchasing an additional 434,295 shares during the period. Sheets Smith Investment Management acquired a new position in Fortuna Mining during the third quarter valued at $1,488,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Fortuna Mining in the second quarter valued at $1,721,000. 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.