Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.
Several other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Weiss Ratings lowered Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Fortuna Mining presently has a consensus rating of “Hold” and a consensus target price of $11.00.
View Our Latest Analysis on FSM
Fortuna Mining Price Performance
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $342.47 million during the quarter, compared to analysts’ expectations of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. Equities analysts predict that Fortuna Mining will post 1.43 EPS for the current fiscal year.
Hedge Funds Weigh In On Fortuna Mining
A number of institutional investors and hedge funds have recently bought and sold shares of FSM. Geneos Wealth Management Inc. lifted 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 worth $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Fortuna Mining in the third quarter valued at approximately $27,000. IFP Advisors Inc acquired a new stake in shares of Fortuna Mining in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted 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 worth $31,000 after buying an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. lifted 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 worth $40,000 after buying an additional 3,006 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.
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.
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