Fortuna Mining (NYSE:FSM) Stock Rating Upgraded by Cibc Captl Mkts

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by stock analysts at Cibc Captl Mkts from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Up 6.8%

Shares of Fortuna Mining stock traded up $0.66 on Tuesday, reaching $10.41. The stock had a trading volume of 5,735,271 shares, compared to its average volume of 8,957,486. 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 stock has a market capitalization of $3.19 billion, a P/E ratio of 14.46 and a beta of 0.88. The company has a 50 day moving average price of $10.16 and a 200 day moving average price of $8.74. Fortuna Mining has a 1 year low of $4.13 and a 1 year high of $12.54.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new position in shares of Fortuna Mining during the fourth quarter valued at approximately $29,000. Advisory Services Network LLC acquired a new position in Fortuna Mining in the 3rd quarter valued at $27,000. Geneos Wealth Management Inc. lifted 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. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other 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.