Fortuna Mining (NYSE:FSM) Raised to “Buy” at Wall Street Zen

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other brokerages have also recently commented on FSM. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 1st. Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Scotiabank raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $10.50 to $11.00 in a research report on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.50.

Fortuna Mining Trading Down 0.4%

FSM stock opened at $9.23 on Friday. Fortuna Mining has a 52-week low of $4.13 and a 52-week high of $10.38. The firm has a market cap of $2.83 billion, a P/E ratio of 12.81 and a beta of 0.95. The company has a quick ratio of 2.73, a current ratio of 3.30 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $8.75 and its 200-day simple moving average is $7.66.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The company had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. As a group, equities analysts forecast that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Institutional Trading of Fortuna Mining

Several institutional investors have recently bought and sold shares of FSM. Kiker Wealth Management LLC grew its position in shares of Fortuna Mining by 4,200.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock worth $197,000 after buying an additional 29,402 shares during the period. Acadian Asset Management LLC boosted its stake in Fortuna Mining by 44.8% during the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after acquiring an additional 2,171,847 shares during the last quarter. American Century Companies Inc. grew its holdings in Fortuna Mining by 7.3% during the second quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after purchasing an additional 434,295 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Fortuna Mining in the second quarter valued at approximately $1,721,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Fortuna Mining by 19.3% in the second quarter. Public Employees Retirement System of Ohio now owns 769,736 shares of the basic materials company’s stock worth $5,145,000 after purchasing an additional 124,687 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

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.