Klein Pavlis & Peasley Financial Inc. Acquires 2,887 Shares of Fortuna Mining Corp. $FSM

Klein Pavlis & Peasley Financial Inc. raised its stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 122,877 shares of the basic materials company’s stock after buying an additional 2,887 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Fortuna Mining were worth $804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in shares of Fortuna Mining during the 2nd quarter worth about $42,000. Virtus Advisers LLC acquired a new stake in Fortuna Mining during the first quarter worth approximately $58,000. PCG Wealth Advisors LLC acquired a new stake in Fortuna Mining during the first quarter worth approximately $61,000. Quarry LP bought a new stake in shares of Fortuna Mining during the first quarter worth approximately $82,000. Finally, FORA Capital LLC acquired a new position in shares of Fortuna Mining in the first quarter valued at approximately $85,000. 33.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FSM. Wall Street Zen cut Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 9th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, August 8th. National Bankshares reissued a “sector perform” rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. CIBC upped their price target on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research note on Tuesday, July 15th. Finally, Scotiabank lifted their price objective on shares of Fortuna Mining from $7.50 to $8.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Fortuna Mining Stock Up 1.1%

Shares of NYSE FSM opened at $8.66 on Monday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 17.31 and a beta of 0.85. The stock’s fifty day moving average is $7.43 and its 200 day moving average is $6.64. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $8.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.15 and a current ratio of 2.71.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The firm had revenue of $230.42 million for the quarter, compared to the consensus estimate of $220.00 million. Sell-side analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Fortuna Mining Company Profile

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.