Campbell & CO Investment Adviser LLC Acquires 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 boosted its position 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 Form 13F filing with the SEC. The institutional investor owned 269,473 shares of the basic materials company's stock after acquiring an additional 93,563 shares during the period. Campbell & CO Investment Adviser LLC owned 0.09% of Fortuna Mining worth $1,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in Fortuna Mining in the first quarter worth approximately $445,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Fortuna Mining by 16.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,951 shares of the basic materials company's stock worth $451,000 after acquiring an additional 10,690 shares in the last quarter. Bank of America Corp DE boosted its holdings in Fortuna Mining by 15.4% in the fourth quarter. Bank of America Corp DE now owns 927,264 shares of the basic materials company's stock worth $3,978,000 after acquiring an additional 123,720 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Fortuna Mining by 29.0% in the fourth quarter. Nuveen Asset Management LLC now owns 303,857 shares of the basic materials company's stock worth $1,304,000 after acquiring an additional 68,350 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Fortuna Mining in the fourth quarter worth approximately $801,000. Institutional investors own 33.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FSM shares. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. CIBC raised their target price on Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a report on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. Scotiabank raised their target price on Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.00.

Fortuna Mining Stock Performance

Fortuna Mining stock traded up $0.27 during mid-day trading on Friday, reaching $7.72. 20,030,395 shares of the company's stock were exchanged, compared to its average volume of 12,993,499. The business's fifty day simple moving average is $6.83 and its 200 day simple moving average is $6.17. The firm has a market capitalization of $2.37 billion, a PE ratio of 15.43 and a beta of 0.85. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $7.75. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

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