Fortuna Mining Corp (NYSE:FSM) price on Thursday, November 14, rose 3.52% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.70.
A look at the stock’s price movement, the close in the last trading session was $4.54, moving within a range at $4.47 and $4.78. The beta value (5-Year monthly) was 1.632 while the PE ratio in trailing twelve months stood at 64.56. Turning to its 52-week performance, $6.36 and $2.63 were the 52-week high and 52-week low respectively. Overall, FSM moved 1.29% over the past month.
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Fortuna Mining Corp’s market cap currently stands at around $2.06 billion, with investors looking forward to this quarter’s earnings report slated for in December.
Analysts have a consensus estimate of 308M for the company’s revenue for the quarter, with a low and high estimate of 308M and 308M respectively. The average forecast suggests up to a 16.09% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 840M, representing a -20.68% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that FSM is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 1 recommend FSM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
FSM’s current price about -5.03% and -2.16% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 46.31, while 7-day volatility ratio is 5.12% and 4.65% in the 30-day chart. Further, Fortuna Mining Corp (FSM) has a beta value of 1.55, and an average true range (ATR) of 0.24. Analysts have given the company’s stock an average 52-week price target of $6.5, forecast between a low of $6.5 and high of $6.5. Looking at the price targets, the low is -38.3% off current price level while to achieve the yearly target high, price needs to move -38.3%. Nonetheless, investors will most likely welcome a -38.3% jump to $6.5 which is the analysts’ median price.
If we refocus on Fortuna Mining Corp (NYSE:FSM), historical trading data shows that trading volumes averaged 7.11 over the past 10 days and 6.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 313.33 million shares.
The 1.20% of Fortuna Mining Corp’s shares are in the hands of company insiders while institutional holders own 53.78% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 13.25 million on 2024-10-31, giving us a short ratio of 1.5. Current price change has pushed the stock 21.76% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the FSM stock continues to rise going into the next quarter.
