91,654 Shares in Fortuna Mining Corp. $FSM Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada purchased 91,654 Fortuna Mining shares in the second quarter, valued at approximately $2.39 million. Institutional investors and hedge funds collectively own 33.8% of the company.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Hold ratings, resulting in a “Moderate Buy” consensus and a $14.00 average price target.
• Fortuna Mining reported quarterly EPS of $0.24, below the $0.29 consensus estimate, while revenue of $318.4 million also missed expectations. Shares opened at $12.15, within a 52-week range of $7.63 to $13.85.

TD Waterhouse Canada Inc. bought a new stake in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,654 shares of the basic materials company's stock, valued at approximately $2,388,000.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Fortuna Mining by 80.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company's stock valued at $174,866,000 after purchasing an additional 8,706,611 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Fortuna Mining by 1,623.8% during the third quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company's stock worth $40,844,000 after buying an additional 4,297,370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fortuna Mining by 38.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company's stock worth $122,747,000 after buying an additional 3,779,920 shares in the last quarter. Invesco Ltd. raised its position in shares of Fortuna Mining by 1,130.8% in the third quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company's stock valued at $27,944,000 after buying an additional 2,865,367 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Fortuna Mining by 31.4% in the third quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company's stock valued at $80,169,000 after buying an additional 2,138,143 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FSM shares. Scotiabank restated an "outperform" rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Fortuna Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, June 18th. Zacks Research upgraded Fortuna Mining from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Wall Street Zen lowered Fortuna Mining from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 12th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Fortuna Mining Trading Down 1.3%

Shares of FSM stock opened at $12.15 on Wednesday. The company has a current ratio of 3.00, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. Fortuna Mining Corp. has a twelve month low of $7.63 and a twelve month high of $13.85. The company's 50-day moving average price is $10.00 and its 200-day moving average price is $10.09. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 10.30 and a beta of 1.08.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%.The firm had revenue of $318.41 million for the quarter, compared to analyst estimates of $325.00 million. As a group, equities analysts predict that Fortuna Mining Corp. will post 1.24 earnings per share for the current year.

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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