Fortuna Mining Corp. (NYSE:FSM) Receives $11.00 Consensus Target Price from Brokerages

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday. Cibc Captl Mkts raised shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors have recently modified their holdings of FSM. Geneos Wealth Management Inc. raised its holdings in shares of Fortuna Mining by 100.0% during the second 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 during the period. Advisory Services Network LLC bought a new stake in Fortuna Mining in the 3rd quarter valued at about $27,000. IFP Advisors Inc acquired a new position in Fortuna Mining during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its stake in Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 3,006 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Trading Up 6.8%

Shares of Fortuna Mining stock opened at $10.41 on Wednesday. The firm’s 50 day moving average is $10.17 and its 200 day moving average is $8.77. The firm has a market capitalization of $3.19 billion, a PE ratio of 14.46 and a beta of 0.88. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $12.54. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results 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 firm had revenue of $246.75 million during the quarter, compared to the consensus estimate of $242.19 million. Equities research analysts forecast 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.