Fortuna Mining (NYSE:FSM) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently commented on FSM. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Fortuna Mining Price Performance

Shares of FSM opened at $9.64 on Friday. The firm has a 50-day simple moving average of $10.91 and a two-hundred day simple moving average of $10.30. The stock has a market cap of $2.85 billion, a PE ratio of 10.05 and a beta of 1.02. Fortuna Mining has a 1-year low of $7.86 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $293.40 million for the quarter, compared to analyst estimates of $289.78 million. Fortuna Mining had a net margin of 24.70% and a return on equity of 17.19%. As a group, analysts forecast that Fortuna Mining will post 1.06 EPS for the current year.

Institutional Trading of Fortuna Mining

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Fortuna Mining by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock valued at $105,576,000 after purchasing an additional 567,558 shares during the period. Euro Pacific Asset Management LLC grew its stake in Fortuna Mining by 0.5% during the 1st quarter. Euro Pacific Asset Management LLC now owns 4,485,635 shares of the basic materials company’s stock worth $43,925,000 after purchasing an additional 20,866 shares in the last quarter. Bank of America Corp DE grew its stake in Fortuna Mining by 9.8% during 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 purchasing an additional 255,336 shares in the last quarter. Royal Bank of Canada increased its holdings in Fortuna Mining by 33.1% during the 1st quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after purchasing an additional 346,716 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Fortuna Mining by 193.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,184,199 shares of the basic materials company’s stock worth $13,315,000 after purchasing an additional 780,745 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.