Campbell & CO Investment Adviser LLC Purchases 93,563 Shares of Fortuna Mining Corp. $FSM

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Fortuna Mining Corp. by 53.2%, acquiring an additional 93,563 shares, bringing its total to 269,473 shares valued at approximately $1.64 million.
• Fortuna Mining reported earnings of $0.14 per share for the last quarter, missing the consensus estimate of $0.22, while its revenue of $230.42 million surpassed expectations of $220 million.
• Wall Street analysts have a consensus rating of "Hold" for Fortuna Mining, with a target price increase from $7.50 to $8.00 by Scotiabank and various ratings changing from "strong-buy" to "hold" by other firms.

Campbell & CO Investment Adviser LLC raised its stake in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 53.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,473 shares of the basic materials company's stock after purchasing an additional 93,563 shares during the period. Campbell & CO Investment Adviser LLC owned 0.09% of Fortuna Mining worth $1,644,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FSM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Fortuna Mining in the fourth quarter valued at $320,000. Geode Capital Management LLC increased its holdings in shares of Fortuna Mining by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company's stock valued at $644,000 after purchasing an additional 7,103 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fortuna Mining in the fourth quarter valued at $523,000. Mariner LLC acquired a new position in shares of Fortuna Mining in the fourth quarter valued at $63,000. Finally, Marshall Wace LLP grew its stake in shares of Fortuna Mining by 75.5% in the fourth quarter. Marshall Wace LLP now owns 56,015 shares of the basic materials company's stock valued at $240,000 after acquiring an additional 24,102 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Mining Trading Up 3.6%

NYSE FSM traded up $0.27 during trading hours on Friday, reaching $7.72. The company's stock had a trading volume of 20,030,395 shares, compared to its average volume of 14,785,644. The firm has a fifty day simple moving average of $6.81 and a 200-day simple moving average of $6.14. The stock has a market cap of $2.37 billion, a P/E ratio of 15.43 and a beta of 0.85. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $7.75. 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 (NYSE:FSM - Get Free Report) TSE: FVI last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). The business had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. Equities analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on FSM shares. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a research note on Friday, August 8th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a research note 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. Wall Street Zen downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Scotiabank upped their price target on shares of Fortuna Mining from $7.50 to $8.00 and gave the company 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Fortuna Mining presently has a consensus rating of "Hold" and an average price target of $8.00.

Fortuna Mining 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.