Zacks Research downgraded shares of Fortuna Mining (NYSE:FSM – Free Report) (TSE:FVI) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.
Several other research firms have also weighed in on FSM. Weiss Ratings upgraded Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Scotiabank lifted their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.00.
Get Our Latest Analysis on Fortuna Mining
Fortuna Mining Trading Up 4.5%
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Research analysts forecast that Fortuna Mining will post 1.43 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its stake in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after buying an additional 2,000 shares during the last quarter. Advisory Services Network LLC purchased a new position in Fortuna Mining during the third quarter valued at $27,000. IFP Advisors Inc purchased a new position in shares of Fortuna Mining in the fourth quarter worth $29,000. EverSource Wealth Advisors LLC raised its stake in shares of Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing 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.
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