Fortuna Mining (NYSE:FSM) Rating Lowered to Buy at Wall Street Zen

Fortuna Mining (NYSE:FSM) (TSE:FVI) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Several other research firms have also commented on FSM. Zacks Research lowered shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Weiss Ratings lowered Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Fortuna Mining Trading Down 0.8%

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

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share 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 firm had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. On average, equities analysts anticipate that Fortuna Mining will post 1.43 EPS for the current year.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors have recently made changes to their positions in FSM. Royal Bank of Canada lifted its holdings in shares of Fortuna Mining by 98.8% in the 1st quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after acquiring an additional 576,264 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Fortuna Mining by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after purchasing an additional 1,368,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Fortuna Mining by 189.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock valued at $5,127,000 after purchasing an additional 549,665 shares during the period. Geode Capital Management LLC raised its position in Fortuna Mining by 3.9% in the second quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock valued at $1,123,000 after purchasing an additional 6,405 shares during the period. Finally, Cetera Investment Advisers acquired a new position in Fortuna Mining during the second quarter worth $122,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.