Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Wall Street Zen

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other research analysts also recently commented on FSM. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Scotiabank lifted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.00.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $13.33 on Friday. The company has a fifty day moving average price of $10.53 and a two-hundred day moving average price of $9.14. Fortuna Mining has a one year low of $4.13 and a one year high of $13.41. The stock has a market cap of $4.07 billion, a P/E ratio of 14.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million during the quarter. As a group, equities analysts predict that Fortuna Mining will post 0.51 EPS for the current year.

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new stake in shares of Fortuna Mining during the 4th quarter valued at $29,000. Advisory Services Network LLC acquired a new position in Fortuna Mining in the third quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its position in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,000 shares during the period. EverSource Wealth Advisors LLC lifted its position in Fortuna Mining by 126.8% during the second 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 during the period. Finally, Osaic Holdings Inc. grew its stake in Fortuna Mining by 96.7% during the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,006 shares in 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.