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.

A number of other analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Scotiabank increased their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.00.

Fortuna Mining Stock Down 1.9%

NYSE:FSM opened at $10.08 on Friday. Fortuna Mining has a 1-year low of $5.23 and a 1-year high of $13.85. The company has a 50-day moving average of $10.80 and a 200 day moving average of $10.02. The firm has a market cap of $3.07 billion, a PE ratio of 11.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The business had revenue of $270.20 million during the quarter. As a group, research analysts anticipate that Fortuna Mining will post 1.63 EPS for the current fiscal year.

Institutional Trading of Fortuna Mining

Several hedge funds have recently modified their holdings of FSM. Royal Bank of Canada lifted its position in shares of Fortuna Mining by 98.8% during the first quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock valued at $7,074,000 after buying an additional 576,264 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after acquiring an additional 1,368,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Fortuna Mining by 189.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock valued at $5,127,000 after acquiring an additional 549,665 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fortuna Mining by 3.9% during the second quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock valued at $1,123,000 after acquiring an additional 6,405 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Fortuna Mining during the second quarter valued at about $122,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

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.