Scotiabank Decreases Earnings Estimates for Fortuna Mining

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) – Equities researchers at Scotiabank lowered their FY2025 EPS estimates for Fortuna Mining in a report issued on Friday, January 23rd. Scotiabank analyst E. Winmill now forecasts that the basic materials company will earn $0.74 per share for the year, down from their prior estimate of $0.76. Scotiabank has a “Outperform” rating and a $14.00 price objective on the stock. The consensus estimate for Fortuna Mining’s current full-year earnings is $0.51 per share.

FSM has been the subject of a number of other research reports. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Fortuna Mining Price Performance

Shares of FSM opened at $11.58 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The firm has a market cap of $3.54 billion, a PE ratio of 16.08 and a beta of 0.89. The firm’s 50 day moving average price is $9.95 and its 200 day moving average price is $8.57. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $12.54.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The business had revenue of $246.75 million for the quarter, compared to analyst estimates of $242.19 million.

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its stake 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 valued at $262,354,000 after purchasing an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Fortuna Mining by 80.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock valued at $174,866,000 after buying an additional 8,706,611 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Fortuna Mining by 38.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after buying an additional 3,779,920 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fortuna Mining by 17.0% during the third quarter. Dimensional Fund Advisors LP now owns 9,307,942 shares of the basic materials company’s stock worth $83,389,000 after acquiring an additional 1,351,971 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Fortuna Mining by 31.4% during the third 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 during the last quarter. 33.80% of the stock is owned by institutional investors.

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.