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

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

FSM has been the subject of a number of research reports. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Monday. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Scotiabank upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $10.50 to $11.00 in a research note on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday.

Institutional Trading of Fortuna Mining

A number of institutional investors have recently added to or reduced their stakes in FSM. Advisory Services Network LLC bought a new stake in Fortuna Mining in the third quarter worth approximately $27,000. Geneos Wealth Management Inc. boosted its holdings in Fortuna Mining by 100.0% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its position 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 buying an additional 2,691 shares during 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 valued at $40,000 after buying an additional 3,006 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in shares of Fortuna Mining during the 2nd quarter worth about $42,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Mining Trading Down 1.7%

NYSE:FSM opened at $9.59 on Tuesday. The stock has a market cap of $2.94 billion, a PE ratio of 13.32 and a beta of 0.95. Fortuna Mining has a fifty-two week low of $4.13 and a fifty-two week high of $10.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.30 and a quick ratio of 2.73. The stock’s 50-day moving average is $8.85 and its two-hundred day moving average is $7.84.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate 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%. As a group, equities research analysts forecast that Fortuna Mining will post 0.51 earnings per share for the current fiscal year.

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.