Fortuna Mining (NYSE:FSM) Shares Down 9.2% – Time to Sell?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI)’s stock price dropped 9.2% during trading on Tuesday . The stock traded as low as $10.08 and last traded at $10.0340. Approximately 1,556,941 shares were traded during trading, a decline of 81% from the average daily volume of 8,276,482 shares. The stock had previously closed at $11.05.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FSM shares. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. National Bank Financial raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Finally, Scotiabank lifted their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, Fortuna Mining presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Up 4.7%

The company’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $9.01. 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 cap of $3.34 billion, a P/E ratio of 15.18 and a beta of 0.88.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $270.20 million for the quarter. Fortuna Mining had a net margin of 21.48% and a return on equity of 12.42%. Research analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Fortuna Mining

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position 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 during the last quarter. Advisory Services Network LLC bought a new position in shares of Fortuna Mining in the 3rd quarter worth approximately $27,000. IFP Advisors Inc purchased a new position in shares of Fortuna Mining in the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew 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 valued at $31,000 after buying an additional 2,691 shares during the period. Finally, Osaic Holdings Inc. grew its position 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 during the period. 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.