Fortuna Mining (NYSE:FSM) Sets New 1-Year High – Still a Buy?

Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $13.85 and last traded at $13.4040, with a volume of 906708 shares traded. The stock had previously closed at $13.66.

Analyst Ratings Changes

Several research analysts have weighed in on FSM shares. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen lowered Fortuna Mining from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Fortuna Mining has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Trading Down 1.5%

The firm has a market capitalization of $4.11 billion, a PE ratio of 15.00 and a beta of 0.82. The firm’s fifty day moving average is $10.84 and its two-hundred day moving average is $9.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million during the quarter. On average, equities analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FSM. Geneos Wealth Management Inc. grew its stake in Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new position in shares of Fortuna Mining in the 3rd quarter worth about $27,000. IFP Advisors Inc purchased a new position in shares of Fortuna Mining in the 4th quarter worth about $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. increased its holdings 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 worth $40,000 after buying an additional 3,006 shares during the last quarter. Hedge funds and other institutional investors 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.