Fortuna Mining (NYSE:FSM) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a report released on Saturday morning.

Several other analysts have also recently weighed in on FSM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Scotiabank raised their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.00.

Fortuna Mining Stock Up 6.4%

Shares of NYSE FSM opened at $11.06 on Friday. Fortuna Mining has a 52-week low of $4.13 and a 52-week high of $12.54. 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 has a fifty day moving average of $10.35 and a two-hundred day moving average of $8.97. The stock has a market cap of $3.37 billion, a PE ratio of 15.35 and a beta of 0.88.

Institutional Investors Weigh In On Fortuna Mining

Several hedge funds and other institutional investors have recently made changes to their positions in FSM. Campbell & CO Investment Adviser LLC boosted its position in shares of Fortuna Mining by 481.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after purchasing an additional 158,412 shares during the last quarter. Sheets Smith Investment Management acquired a new position in Fortuna Mining in the third quarter valued at about $1,488,000. Acadian Asset Management LLC lifted its stake in Fortuna Mining by 44.8% in the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after buying an additional 2,171,847 shares during the period. American Century Companies Inc. boosted 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 worth $41,631,000 after buying an additional 434,295 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Fortuna Mining during the 2nd quarter worth about $1,721,000. 33.80% of the stock is owned by institutional investors and hedge funds.

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.