Fortuna Mining Corp. (NYSE:FSM) Receives $14.00 Average Target Price from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.00.

Several analysts have issued reports on FSM shares. Weiss Ratings upgraded Fortuna Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th.

Fortuna Mining Price Performance

FSM opened at $11.95 on Thursday. The company has a market capitalization of $3.54 billion, a P/E ratio of 10.13 and a beta of 1.08. The company has a 50-day moving average of $10.54 and a 200-day moving average of $10.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00. Fortuna Mining has a 1-year low of $7.69 and a 1-year high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $318.41 million for the quarter, compared to the consensus estimate of $325.00 million. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. Equities analysts expect that Fortuna Mining will post 1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Large investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Fortuna Mining by 3.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock valued at $198,176,000 after buying an additional 686,762 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fortuna Mining by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock worth $105,576,000 after acquiring an additional 567,558 shares during the last quarter. Euro Pacific Asset Management LLC grew its position in shares of Fortuna Mining by 0.5% during the first quarter. Euro Pacific Asset Management LLC now owns 4,485,635 shares of the basic materials company’s stock worth $43,925,000 after acquiring an additional 20,866 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Fortuna Mining by 9.8% in the 1st quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock worth $28,363,000 after acquiring an additional 255,336 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Fortuna Mining by 13.1% in the 4th quarter. Legal & General Group Plc now owns 1,458,914 shares of the basic materials company’s stock worth $14,311,000 after acquiring an additional 169,344 shares during the period. 33.80% of the stock is owned by institutional investors and hedge funds.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines in the Americas and West Africa. The company produces gold, silver, lead and zinc, with gold representing an important part of its current operating portfolio.

Fortuna’s principal assets include the Séguéla gold mine in Côte d’Ivoire, the Lindero gold mine in Argentina and the Caylloma polymetallic mine in Peru. The company also maintains exploration and development activities in the regions surrounding its operations.