Amundi Sells 297,447 Shares of Fortuna Mining Corp. $FSM

Amundi lowered its holdings in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 8.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,101,188 shares of the basic materials company's stock after selling 297,447 shares during the quarter. Amundi owned 1.01% of Fortuna Mining worth $18,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new stake in shares of Fortuna Mining in the fourth quarter valued at approximately $320,000. BNP Paribas Financial Markets bought a new position in Fortuna Mining during the 4th quarter valued at about $801,000. Bank of America Corp DE lifted its holdings in Fortuna Mining by 15.4% during the 4th quarter. Bank of America Corp DE now owns 927,264 shares of the basic materials company's stock valued at $3,978,000 after purchasing an additional 123,720 shares during the last quarter. Deutsche Bank AG lifted its holdings in Fortuna Mining by 2.4% during the 4th quarter. Deutsche Bank AG now owns 883,993 shares of the basic materials company's stock valued at $3,792,000 after purchasing an additional 20,807 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new position in Fortuna Mining during the 4th quarter valued at about $3,562,000. Institutional investors and hedge funds own 33.80% of the company's stock.

Fortuna Mining Stock Up 1.9%

FSM traded up $0.15 during trading on Wednesday, reaching $7.89. The company had a trading volume of 23,074,209 shares, compared to its average volume of 14,353,086. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. Fortuna Mining Corp. has a 12 month low of $4.13 and a 12 month high of $8.07. The business's fifty day moving average price is $7.02 and its 200 day moving average price is $6.31. The company has a market cap of $2.42 billion, a P/E ratio of 15.77 and a beta of 0.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The company had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. Equities analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FSM shares. CIBC lifted their price target on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a report on Tuesday, July 15th. Scotiabank lifted their price target on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Fortuna Mining has an average rating of "Hold" and an average price target of $8.00.

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.