Fortuna Mining (NYSE:FSM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

FSM has been the topic of a number of other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Scotiabank upped their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Finally, National Bankshares upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Price Performance

Shares of NYSE:FSM opened at $10.60 on Tuesday. 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 business’s fifty day moving average price is $10.16 and its two-hundred day moving average price is $8.73. The stock has a market cap of $3.24 billion, a PE ratio of 14.72 and a beta of 0.88. Fortuna Mining has a one year low of $4.13 and a one year high of $12.54.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted 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 net margin of 21.48% and a return on equity of 12.42%. The company had revenue of $246.75 million for the quarter, compared to analyst estimates of $242.19 million. On average, analysts forecast that Fortuna Mining will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortuna Mining

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its holdings in Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Fortuna Mining in the third quarter worth about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after buying an additional 2,691 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares in the last quarter. Finally, Employees Retirement System of Texas raised its holdings in shares of Fortuna Mining by 1,250.0% during the 3rd quarter. Employees Retirement System of Texas now owns 7,263 shares of the basic materials company’s stock valued at $65,000 after buying an additional 6,725 shares during the period. Hedge funds and other institutional investors 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.