Fortuna Mining (NYSE:FSM) Upgraded at Cibc Captl Mkts

Fortuna Mining (NYSE:FSM) (TSE:FVI) was upgraded by equities research analysts at Cibc Captl Mkts from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

FSM has been the subject of several other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Scotiabank raised their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. National Bankshares upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fortuna Mining has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Fortuna Mining Price Performance

NYSE:FSM opened at $10.60 on Tuesday. The stock has a 50 day moving average of $10.16 and a two-hundred day moving average of $8.73. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $12.54. The firm has a market cap of $3.24 billion, a P/E ratio of 14.72 and a beta of 0.88. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results 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 business had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. On average, analysts expect that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

A number of large investors have recently modified their holdings of FSM. Geneos Wealth Management Inc. lifted its stake in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 2,000 shares during the last quarter. Advisory Services Network LLC purchased a new position in Fortuna Mining in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its holdings in Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Fortuna Mining by 96.7% during the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its position in shares of Fortuna Mining by 1,250.0% during the 3rd quarter. Employees Retirement System of Texas now owns 7,263 shares of the basic materials company’s stock worth $65,000 after buying an additional 6,725 shares during the last quarter. 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.