Vanguard Group Inc. grew its holdings in shares of Fortuna Mining Corp. (NYSE:FSM – Free Report) (TSE:FVI) by 81.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,255,178 shares of the basic materials company’s stock after purchasing an additional 3,693,155 shares during the period. Vanguard Group Inc. owned approximately 2.70% of Fortuna Mining worth $80,892,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in FSM. Royal Bank of Canada boosted its position in shares of Fortuna Mining by 98.8% during the 1st quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock valued at $7,074,000 after purchasing an additional 576,264 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after purchasing an additional 1,368,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Fortuna Mining by 189.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock valued at $5,127,000 after purchasing an additional 549,665 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fortuna Mining by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock valued at $1,123,000 after purchasing an additional 6,405 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Fortuna Mining during the 2nd quarter valued at about $122,000. Institutional investors own 33.80% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on FSM. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Zacks Research cut shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Scotiabank raised their target price on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Fortuna Mining currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.
Fortuna Mining Price Performance
Shares of FSM opened at $10.70 on Thursday. The firm has a market cap of $3.26 billion, a PE ratio of 10.09 and a beta of 0.94. The firm’s 50 day moving average price is $10.33 and its 200 day moving average price is $10.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. Fortuna Mining Corp. has a twelve month low of $5.23 and a twelve month high of $13.85.
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last issued its quarterly earnings data 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). The business had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. As a group, research analysts expect that Fortuna Mining Corp. will post 1.63 EPS 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.
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