Fortuna Mining Corp. (NYSE:FSM) Receives $11.00 Consensus PT from Analysts

Shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) have been assigned a consensus rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have recently commented on FSM. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Scotiabank increased their price objective on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd.

Fortuna Mining Stock Performance

FSM opened at $10.34 on Monday. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 11.48 and a beta of 1.01. 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 has a 1-year low of $5.23 and a 1-year high of $13.85. The business has a 50 day moving average price of $10.84 and a two-hundred day moving average price of $9.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The firm had revenue of $270.20 million during the quarter. Research analysts predict that Fortuna Mining will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortuna Mining

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pictet Asset Management Holding SA lifted its position in shares of Fortuna Mining by 13.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 63,314 shares of the basic materials company’s stock valued at $627,000 after acquiring an additional 7,394 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Fortuna Mining by 27.3% during the 1st quarter. Ritholtz Wealth Management now owns 223,245 shares of the basic materials company’s stock valued at $2,217,000 after acquiring an additional 47,849 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Fortuna Mining by 1,001.3% in the first quarter. Banque Cantonale Vaudoise now owns 6,553 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 5,958 shares in the last quarter. PKO Investment Management Joint Stock Co lifted its holdings in shares of Fortuna Mining by 45.1% in the first quarter. PKO Investment Management Joint Stock Co now owns 151,438 shares of the basic materials company’s stock valued at $1,502,000 after purchasing an additional 47,061 shares in the last quarter. Finally, World Investment Advisors purchased a new stake in shares of Fortuna Mining in the fourth quarter valued at $1,415,000. 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.