Fortuna Mining (NYSE:FSM) Lowered to “Hold” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Fortuna Mining (NYSE:FSM – Free Report) (TSE:FVI) from a buy rating to a hold rating in a research report released on Monday morning.

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

Read Our Latest Stock Report on FSM

Fortuna Mining Price Performance

Shares of NYSE:FSM opened at $13.56 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. The business’s fifty day moving average price is $10.91 and its two-hundred day moving average price is $9.38. The stock has a market cap of $4.14 billion, a PE ratio of 15.06 and a beta of 0.82. Fortuna Mining has a one year low of $4.13 and a one year high of $13.85.

Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $270.20 million during the quarter. Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%. On average, analysts forecast that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in Fortuna Mining by 43.5% during the 3rd quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after purchasing an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Fortuna Mining by 3.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock valued at $198,176,000 after buying an additional 686,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after buying an additional 3,779,920 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Fortuna Mining by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,066,599 shares of the basic materials company’s stock valued at $98,758,000 after buying an additional 758,657 shares during the period. Finally, Tidal Investments LLC lifted its position 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 in the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

About Fortuna Mining

(Get Free Report)

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.

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