Fortuna Mining Corp. (NYSE:FSM) Receives $9.50 Consensus Target Price from Analysts

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has received an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.50.

A number of equities research analysts have recently weighed in on FSM shares. Scotiabank upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $10.50 to $11.00 in a research report on Monday, November 24th. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th.

Fortuna Mining Stock Performance

FSM stock opened at $10.50 on Friday. Fortuna Mining has a twelve month low of $4.13 and a twelve month high of $10.75. 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 company has a market cap of $3.22 billion, a P/E ratio of 14.58 and a beta of 0.89. The business’s fifty day moving average is $9.37 and its 200-day moving average is $8.25.

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

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors have recently added to or reduced their stakes in FSM. Kiker Wealth Management LLC grew its position in Fortuna Mining by 4,200.3% during the second quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock worth $197,000 after buying an additional 29,402 shares during the period. Sheets Smith Investment Management acquired a new position in shares of Fortuna Mining in the third quarter worth $1,488,000. Acadian Asset Management LLC raised its stake in Fortuna Mining by 44.8% in the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after purchasing an additional 2,171,847 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 valued at $41,631,000 after buying an additional 434,295 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Fortuna Mining during the 2nd quarter worth $1,721,000. 33.80% of the stock is owned by 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.