Fortuna Mining (NYSE:FSM) Hits New 1-Year High – What’s Next?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $13.41 and last traded at $13.2760, with a volume of 3289556 shares changing hands. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FSM. Scotiabank increased their price objective on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Sunday. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.00.

Fortuna Mining Trading Up 7.1%

The company has a market cap of $4.01 billion, a P/E ratio of 14.61 and a beta of 0.88. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $10.46 and a 200-day moving average price of $9.09.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its earnings results 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 firm had revenue of $270.20 million for the quarter. Analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

Several hedge funds have recently bought and sold shares of FSM. Geneos Wealth Management Inc. grew its holdings 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 period. Advisory Services Network LLC bought a new position in shares of Fortuna Mining during the 3rd quarter worth approximately $27,000. IFP Advisors Inc bought a new position in shares of Fortuna Mining during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 3,006 shares during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

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.