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

Wall Street Zen lowered shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a buy rating to a hold rating in a report issued on Monday morning.

Several other research firms have also recently weighed in on FSM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 8th. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Finally, Scotiabank raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $10.50 to $11.00 in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fortuna Mining has an average rating of “Hold” and an average price target of $9.50.

Fortuna Mining Stock Up 2.4%

Shares of NYSE FSM opened at $9.75 on Monday. Fortuna Mining has a 12 month low of $4.13 and a 12 month high of $10.38. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.55 and a beta of 0.95. The business has a 50-day moving average of $8.84 and a 200-day moving average of $7.83.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The firm had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Sell-side analysts expect that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of FSM. Invesco Ltd. lifted its stake in shares of Fortuna Mining by 38.7% in the 1st quarter. Invesco Ltd. now owns 2,692,091 shares of the basic materials company’s stock valued at $16,422,000 after purchasing an additional 751,343 shares during the last quarter. Nuveen LLC purchased a new stake in Fortuna Mining during the 1st quarter valued at $17,032,000. Russell Investments Group Ltd. lifted its position in Fortuna Mining by 14.3% in the first quarter. Russell Investments Group Ltd. now owns 935,099 shares of the basic materials company’s stock worth $5,701,000 after buying an additional 117,228 shares during the last quarter. American Century Companies Inc. lifted its position in Fortuna Mining by 17.7% in the first quarter. American Century Companies Inc. now owns 5,928,763 shares of the basic materials company’s stock worth $36,075,000 after buying an additional 889,933 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its stake in Fortuna Mining by 799.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 181,592 shares of the basic materials company’s stock worth $1,105,000 after buying an additional 161,399 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. 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.