Wall Street Zen Downgrades Fortuna Mining (NYSE:FSM) to Hold

Fortuna Mining (NYSE:FSM) (TSE:FVI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

FSM has been the topic of several other reports. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Scotiabank upped their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, Fortuna Mining currently has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Up 6.4%

Shares of NYSE:FSM opened at $11.06 on Friday. 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 has a market cap of $3.37 billion, a price-to-earnings ratio of 15.35 and a beta of 0.88. The company has a 50 day moving average of $10.31 and a 200-day moving average of $8.94. Fortuna Mining has a one year low of $4.13 and a one year high of $12.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Centric Wealth Management raised its holdings in shares of Fortuna Mining by 10.0% during the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 1,000 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in Fortuna Mining by 1.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 1,500 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Fortuna Mining by 100.0% during the 2nd 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. Farther Finance Advisors LLC raised its stake in shares of Fortuna Mining by 32.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 2,126 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 2,691 shares in the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

About Fortuna Mining

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.