Fortuna Mining (NYSE:FSM) Announces Earnings Results, Beats Expectations By $0.03 EPS

Fortuna Mining (NYSE:FSM) (TSE:FVI) issued its quarterly earnings data on Wednesday. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03, reports. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. The company had revenue of $289.78 million for the quarter, compared to analyst estimates of $289.78 million.

Fortuna Mining Stock Performance

Shares of NYSE:FSM traded down $0.12 on Thursday, reaching $9.46. The company’s stock had a trading volume of 5,540,454 shares, compared to its average volume of 6,228,932. The stock’s 50-day moving average is $11.03 and its two-hundred day moving average is $10.31. Fortuna Mining has a 52-week low of $7.86 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50. The stock has a market capitalization of $2.80 billion, a P/E ratio of 8.02 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Wall Street Zen cut Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.