Brokerages Set Fortuna Mining Corp. (NYSE:FSM) PT at $14.00

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.00.

A number of brokerages recently commented on FSM. Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings cut shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Zacks Research raised shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a report on Thursday, July 30th.

Fortuna Mining Trading Up 3.2%

Shares of NYSE FSM opened at $12.80 on Friday. The company has a current ratio of 3.00, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. Fortuna Mining has a one year low of $7.39 and a one year high of $13.85. The business has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $10.01. The firm has a market capitalization of $3.79 billion, a PE ratio of 10.85 and a beta of 1.01.

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

Institutional Investors Weigh In On Fortuna Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Groupe la Francaise lifted its holdings in shares of Fortuna Mining by 10.4% during the 2nd quarter. Groupe la Francaise now owns 1,130,000 shares of the basic materials company’s stock valued at $9,557,000 after buying an additional 106,620 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in Fortuna Mining in the second quarter worth approximately $2,388,000. AXQ Capital LP acquired a new position in Fortuna Mining in the second quarter worth approximately $403,000. Public Employees Retirement System of Ohio bought a new position in Fortuna Mining during the second quarter valued at approximately $7,076,000. Finally, Bank of New York Mellon Corp bought a new position in Fortuna Mining during the second quarter valued at approximately $466,000. 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.