Fortuna Mining (NYSE:FSM) Stock Price Up 7.5% – Should You Buy?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) rose 7.5% during trading on Thursday . The company traded as high as $11.26 and last traded at $11.2220. Approximately 1,992,382 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 8,249,685 shares. The stock had previously closed at $10.44.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FSM shares. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded Fortuna Mining from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Price Performance

The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 15.29 and a beta of 0.88. 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 stock has a 50-day simple moving average of $10.38 and a 200 day simple moving average of $9.01.

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

Hedge Funds Weigh In On Fortuna Mining

A number of hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC lifted its position in Fortuna Mining by 481.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after acquiring an additional 158,412 shares during the last quarter. Sheets Smith Investment Management bought a new position in shares of Fortuna Mining in the third quarter worth about $1,488,000. Acadian Asset Management LLC lifted its position in shares of Fortuna Mining by 44.8% during the 2nd quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after purchasing an additional 2,171,847 shares during the last quarter. American Century Companies Inc. boosted its stake in Fortuna Mining by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after purchasing an additional 434,295 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Fortuna Mining in the 2nd quarter valued at approximately $1,721,000. 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.