Fortuna Mining Corp. (NYSE:FSM) Receives $11.00 Consensus Target Price from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.00.

FSM has been the topic of several recent research reports. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Finally, Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th.

Institutional Investors Weigh In On Fortuna Mining

Several hedge funds have recently bought and sold shares of FSM. Geneos Wealth Management Inc. boosted its holdings in shares of 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. Advisory Services Network LLC acquired a new position in Fortuna Mining in the 3rd quarter valued at approximately $27,000. IFP Advisors Inc acquired a new position in Fortuna Mining in the 4th quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in Fortuna Mining by 96.7% in the 2nd 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. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Mining Price Performance

Shares of FSM traded down $0.07 during mid-day trading on Friday, hitting $8.50. The company’s stock had a trading volume of 4,066,636 shares, compared to its average volume of 4,369,225. The firm has a 50-day moving average price of $9.25 and a 200 day moving average price of $10.15. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 8.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. Fortuna Mining has a fifty-two week low of $6.17 and a fifty-two week high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The business had revenue of $342.47 million for the quarter, compared to analyst estimates of $340.00 million. On average, research analysts predict that Fortuna Mining will post 1.43 EPS for the current fiscal year.

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.