Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Cibc Captl Mkts

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by stock analysts at Cibc Captl Mkts from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on FSM. Canadian Imperial Bank of Commerce raised shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Scotiabank boosted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Trading Up 6.8%

FSM traded up $0.66 during trading on Tuesday, hitting $10.41. 6,472,276 shares of the stock were exchanged, 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 firm has a 50 day simple moving average of $10.16 and a 200 day simple moving average of $8.74. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 14.46 and a beta of 0.88. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $12.54.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSM. Geneos Wealth Management Inc. raised its stake in Fortuna Mining by 100.0% in the second 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 last quarter. Advisory Services Network LLC purchased a new position in shares of Fortuna Mining in the 3rd quarter valued at approximately $27,000. IFP Advisors Inc purchased a new position in shares of Fortuna Mining in the 4th quarter valued at approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in 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 worth $31,000 after purchasing an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares during the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

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.