Fortuna Mining (NYSE:FSM) Shares Up 10.6% – Should You Buy?

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) were up 10.6% during trading on Monday . The stock traded as high as $9.08 and last traded at $9.1050. Approximately 5,222,156 shares traded hands during trading, a decline of 66% from the average daily volume of 15,463,671 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FSM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, November 17th. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. National Bankshares upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday. Finally, Scotiabank upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $10.50 to $11.00 in a research report on Monday. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.50.

Fortuna Mining Stock Up 10.3%

The stock has a 50-day moving average of $8.48 and a 200-day moving average of $7.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 18.16 and a beta of 0.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). The company had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. Sell-side analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Fortuna Mining

Several hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of 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 acquiring an additional 2,000 shares during the period. Advisory Services Network LLC acquired a new position in Fortuna Mining during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 2,691 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new position in shares of Fortuna Mining in the 2nd quarter valued at $42,000. 33.80% of the stock is owned by 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.