Fortuna Mining Corp. $FSM Shares Bought by Northwest & Ethical Investments L.P.

Key Points

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Northwest & Ethical Investments L.P. boosted its position in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 799.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,592 shares of the basic materials company's stock after purchasing an additional 161,399 shares during the period. Northwest & Ethical Investments L.P. owned about 0.06% of Fortuna Mining worth $1,105,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. grew its stake in Fortuna Mining by 24.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after acquiring an additional 2,440 shares in the last quarter. Optiver Holding B.V. bought a new position in Fortuna Mining in the 4th quarter worth about $26,000. Geode Capital Management LLC grew its stake in Fortuna Mining by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company's stock worth $644,000 after acquiring an additional 7,103 shares in the last quarter. PCG Wealth Advisors LLC bought a new position in Fortuna Mining in the 1st quarter worth about $61,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Fortuna Mining by 16.9% in the 1st 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. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Stock Up 2.8%

Shares of NYSE FSM traded up $0.2050 during midday trading on Friday, reaching $7.5550. 13,046,002 shares of the company's stock traded hands, compared to its average volume of 12,032,803. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The stock's 50 day simple moving average is $6.75 and its 200-day simple moving average is $6.09. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $7.67. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 15.11 and a beta of 0.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last released 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). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The business had revenue of $230.42 million for the quarter, compared to the consensus estimate of $220.00 million. On average, analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

FSM has been the topic of a number of research analyst reports. 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. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Scotiabank upped their target price on shares of Fortuna Mining from $7.50 to $8.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. Finally, CIBC upped their target price on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research note on Tuesday, July 15th. One investment 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.