Analysts Set Fortuna Mining Corp. (NYSE:FSM) Target Price at $11.00
by Mitch Edgeman · The Markets DailyShares of Fortuna Mining Corp. (NYSE:FSM – Get Free Report) (TSE:FVI) have been given a consensus recommendation of “Buy” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.00.
A number of research firms have recently weighed in on FSM. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Scotiabank lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd.
Read Our Latest Research Report on FSM
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. World Investment Advisors bought a new stake in Fortuna Mining in the fourth quarter worth $1,415,000. Alberta Investment Management Corp increased its holdings in shares of Fortuna Mining by 18.7% during the fourth quarter. Alberta Investment Management Corp now owns 313,600 shares of the basic materials company’s stock valued at $3,073,000 after acquiring an additional 49,300 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Fortuna Mining by 330.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,761,664 shares of the basic materials company’s stock worth $17,509,000 after purchasing an additional 1,352,016 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Fortuna Mining by 6.3% in the 4th quarter. NewEdge Advisors LLC now owns 211,355 shares of the basic materials company’s stock worth $2,073,000 after purchasing an additional 12,540 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in Fortuna Mining by 6.7% in the 4th quarter. Voloridge Investment Management LLC now owns 2,221,012 shares of the basic materials company’s stock worth $21,788,000 after purchasing an additional 138,932 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.
Fortuna Mining Trading Up 3.9%
FSM opened at $9.51 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. Fortuna Mining has a 52 week low of $5.13 and a 52 week high of $13.85. The stock has a market cap of $2.90 billion, a PE ratio of 10.56 and a beta of 0.82. The business has a 50 day moving average of $11.02 and a 200-day moving average of $9.75.
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm 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%. Equities research analysts predict that Fortuna Mining will post 0.51 earnings per share 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.