Fortuna Mining Corp. $FSM Shares Newly Purchased by Abbington Investment Group

Key Points

• Abbington Investment Group initiated a position in Fortuna Mining during the third quarter, buying 127,660 shares valued at about $1.44 million. Institutional investors and hedge funds collectively own 33.8% of the company’s stock.
• Fortuna reported quarterly EPS of $0.17, beating the $0.14 consensus estimate, while revenue of $293.4 million also topped expectations of $289.8 million.
• Analysts’ consensus rating is Moderate Buy, with a $14.00 target price; four analysts rate the stock Buy and one rates it Hold.

Abbington Investment Group acquired a new stake in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 127,660 shares of the basic materials company's stock, valued at approximately $1,435,000.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company's stock valued at $105,576,000 after acquiring an additional 567,558 shares during the last quarter. Euro Pacific Asset Management LLC grew its stake in Fortuna Mining by 0.5% in the first quarter. Euro Pacific Asset Management LLC now owns 4,485,635 shares of the basic materials company's stock worth $43,925,000 after purchasing an additional 20,866 shares in the last quarter. Bank of America Corp DE increased its holdings in Fortuna Mining by 9.8% in the first quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company's stock valued at $28,363,000 after buying an additional 255,336 shares during the last quarter. Royal Bank of Canada increased its holdings in Fortuna Mining by 33.1% in the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company's stock valued at $13,849,000 after buying an additional 346,716 shares during the last quarter. Finally, Groupe la Francaise raised its stake in Fortuna Mining by 10.4% during the second quarter. Groupe la Francaise now owns 1,130,000 shares of the basic materials company's stock valued at $9,557,000 after buying an additional 106,620 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Stock Performance

FSM opened at $9.64 on Monday. The firm has a market cap of $2.85 billion, a PE ratio of 10.05 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 2.31 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $10.91 and a 200-day simple moving average of $10.30. Fortuna Mining Corp. has a fifty-two week low of $7.86 and a fifty-two week high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its earnings results on Wednesday, November 4th. The basic materials company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. Fortuna Mining had a net margin of 24.70% and a return on equity of 17.02%. The company had revenue of $293.40 million during the quarter, compared to analysts' expectations of $289.78 million. As a group, equities analysts predict that Fortuna Mining Corp. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on FSM shares. Scotiabank reissued an "outperform" rating on shares of Fortuna Mining in a report on Thursday, July 30th. Zacks Research raised shares of Fortuna Mining from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings downgraded shares of Fortuna Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, October 26th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a "buy" rating to a "hold" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Fortuna Mining currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

About Fortuna Mining

Fortuna Mining Corp. is a precious metals mining company focused on the exploration, development and operation of mines. Its production includes gold, silver, lead and zinc.

The company operates mines in Argentina, Burkina Faso, Côte d'Ivoire and Peru. Its assets include the Lindero gold mine in Argentina, the Yaramoko gold mine in Burkina Faso, the Séguéla gold mine in Côte d'Ivoire and the Caylloma silver, lead and zinc mine in Peru.

Founded as Fortuna Silver Mines, the company adopted the Fortuna Mining name in 2024 as its business expanded beyond silver.

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