Channing Global Advisors LLC acquired a new stake in Fortuna Mining Corp. (NYSE:FSM – Free Report) (TSE:FVI) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 124,082 shares of the basic materials company’s stock, valued at approximately $1,232,000. Fortuna Mining comprises approximately 0.7% of Channing Global Advisors LLC’s holdings, making the stock its 24th biggest position.
A number of other institutional investors also recently modified their holdings of FSM. Royal Bank of Canada lifted its position in shares of Fortuna Mining by 98.8% during the first quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after purchasing an additional 576,264 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Fortuna Mining by 19.6% in the first 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 raised its position in Fortuna Mining by 189.0% in 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 worth $5,127,000 after purchasing an additional 549,665 shares during the last quarter. Geode Capital Management LLC raised its position in Fortuna Mining by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock worth $1,123,000 after purchasing an additional 6,405 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Fortuna Mining during the 2nd quarter worth $122,000. 33.80% of the stock is owned by institutional investors.
Analysts Set New Price Targets
FSM has been the topic of a number of recent research reports. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Finally, Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fortuna Mining has an average rating of “Hold” and an average target price of $11.00.
Fortuna Mining Stock Performance
Shares of FSM stock opened at $8.56 on Friday. The stock has a market cap of $2.56 billion, a PE ratio of 8.07 and a beta of 0.99. The stock has a 50-day moving average of $9.27 and a 200-day moving average of $10.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. Fortuna Mining Corp. has a one year low of $6.17 and a one year high of $13.85.
Fortuna Mining (NYSE:FSM – Get Free Report) (TSE:FVI) last released 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 firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. As a group, sell-side analysts expect that Fortuna Mining Corp. will post 1.43 earnings per share for the current 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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