Fortuna Mining Corp. (NYSE:FSM) Position Trimmed by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its holdings in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 86.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 661,561 shares of the basic materials company's stock after selling 4,058,814 shares during the period. Mackenzie Financial Corp owned 0.22% of Fortuna Mining worth $4,022,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FSM. TD Asset Management Inc raised its stake in Fortuna Mining by 137.8% during the first quarter. TD Asset Management Inc now owns 2,063,851 shares of the basic materials company's stock worth $12,547,000 after acquiring an additional 1,195,890 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Fortuna Mining during the 1st quarter worth approximately $588,000. PCG Wealth Advisors LLC bought a new stake in shares of Fortuna Mining in the 1st quarter worth approximately $61,000. Kingsview Wealth Management LLC acquired a new position in Fortuna Mining during the 1st quarter valued at approximately $969,000. Finally, Realta Investment Advisors acquired a new position in Fortuna Mining during the 1st quarter valued at approximately $406,000. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Stock Performance

NYSE FSM opened at $6.40 on Friday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 12.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56. Fortuna Mining Corp. has a 52-week low of $3.86 and a 52-week high of $7.55. The company's fifty day moving average is $6.61 and its two-hundred day moving average is $5.83.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The company had revenue of $290.15 million for the quarter, compared to analyst estimates of $291.00 million. Fortuna Mining had a return on equity of 12.94% and a net margin of 14.28%. Equities research analysts forecast that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. CIBC lifted their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a research report on Tuesday, July 15th. Scotiabank raised their price target on shares of Fortuna Mining from $6.00 to $7.00 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Wall Street Zen upgraded Fortuna Mining from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Finally, National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.50.

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.

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