Fortuna Mining (NYSE:FSM) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on FSM. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Wall Street Zen lowered Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Stock Up 1.7%

FSM opened at $8.51 on Monday. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $9.21 and a 200-day moving average price of $10.13. Fortuna Mining has a twelve month low of $6.17 and a twelve month high of $13.85. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 8.03 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%.The company had revenue of $342.47 million during the quarter, compared to analysts’ expectations of $340.00 million. Equities research analysts forecast that Fortuna Mining will post 1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of Fortuna Mining by 3.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock valued at $198,176,000 after acquiring an additional 686,762 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Fortuna Mining by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after acquiring an additional 3,779,920 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock worth $105,576,000 after acquiring an additional 567,558 shares during the period. Tidal Investments LLC raised its stake in Fortuna Mining by 31.4% during the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock worth $80,169,000 after acquiring an additional 2,138,143 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock worth $51,046,000 after acquiring an additional 1,368,600 shares during the period. Institutional investors own 33.80% of the company’s stock.

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.