Fortuna Mining Corp. $FSM Shares Purchased by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management LLC increased its stake in Fortuna Mining Corp. by 1.5% during the second quarter, owning 4,417,962 shares valued at approximately $28.88 million.
• Several analysts rated Fortuna Mining, with Weiss Ratings issuing a "buy" rating, while others like Zacks lowered their recommendation to "hold," reflecting mixed sentiment among investors.
• Fortuna Mining reported $0.14 EPS for its last quarter, missing estimates by $0.08, but had revenue of $230.42 million, exceeding expectations of $220 million.

Euro Pacific Asset Management LLC raised its holdings in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,417,962 shares of the basic materials company's stock after acquiring an additional 63,508 shares during the period. Fortuna Mining makes up 4.7% of Euro Pacific Asset Management LLC's holdings, making the stock its 6th largest position. Euro Pacific Asset Management LLC owned 1.44% of Fortuna Mining worth $28,883,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FSM. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Fortuna Mining by 2.4% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company's stock worth $804,000 after purchasing an additional 2,887 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Fortuna Mining by 19.3% during the second quarter. Public Employees Retirement System of Ohio now owns 769,736 shares of the basic materials company's stock worth $5,145,000 after buying an additional 124,687 shares during the last quarter. Farther Finance Advisors LLC bought a new position in Fortuna Mining during the second quarter worth about $42,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Fortuna Mining by 189.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company's stock worth $5,127,000 after buying an additional 549,665 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Fortuna Mining by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company's stock valued at $51,046,000 after acquiring an additional 1,368,600 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FSM shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Fortuna Mining in a research note on Saturday, September 27th. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. CIBC boosted 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. Finally, BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.00.

Fortuna Mining Stock Performance

Shares of FSM opened at $8.92 on Monday. The firm has a market cap of $2.74 billion, a P/E ratio of 17.83 and a beta of 0.84. Fortuna Mining Corp. has a twelve month low of $4.13 and a twelve month high of $9.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.15 and a current ratio of 2.71. The firm's 50 day moving average price is $7.63 and its two-hundred day moving average price is $6.75.

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 the consensus estimate of $0.22 by ($0.08). The company 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, analysts forecast that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal 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.

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