Fortuna Mining (NYSE:FSM) Stock Sees Heavy Call Option Buying

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 7,629 call options on the company. This is an increase of 496% compared to the average daily volume of 1,279 call options.

Analyst Ratings Changes

Several research analysts recently commented on FSM shares. Wall Street Zen cut Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a report on Thursday, July 30th. Finally, Zacks Research upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Stock Performance

FSM traded down $0.09 on Wednesday, hitting $9.47. 2,699,014 shares of the company’s stock were exchanged, compared to its average volume of 6,247,584. The company has a current ratio of 3.00, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $11.34 and a two-hundred day moving average of $10.34. Fortuna Mining has a twelve month low of $7.72 and a twelve month high of $13.85. The firm has a market cap of $2.80 billion, a PE ratio of 8.00 and a beta of 1.05.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. The company had revenue of $318.41 million for the quarter, compared to the consensus estimate of $325.00 million. On average, research analysts anticipate that Fortuna Mining will post 1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortuna Mining

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Fortuna Mining by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock worth $105,576,000 after acquiring an additional 567,558 shares during the period. Euro Pacific Asset Management LLC boosted its position in shares of Fortuna Mining by 0.5% during the first quarter. Euro Pacific Asset Management LLC now owns 4,485,635 shares of the basic materials company’s stock worth $43,925,000 after buying an additional 20,866 shares during the period. Bank of America Corp DE grew its holdings in Fortuna Mining by 9.8% in the 1st quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock worth $28,363,000 after buying an additional 255,336 shares in the last quarter. Royal Bank of Canada grew its holdings in Fortuna Mining by 33.1% in the 1st quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after buying an additional 346,716 shares in the last quarter. Finally, Groupe la Francaise increased its position in Fortuna Mining by 10.4% in 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 acquiring an additional 106,620 shares during the period. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.