Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Sells 47,000 Shares of Fortuna Mining Corp. (NYSE:FSM)

Key Points

• Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. reduced its stake in Fortuna Mining Corp. by 63.0%, owning 27,600 shares after selling 47,000 shares during the first quarter.
• Several institutional investors, including Optiver Holding B.V. and Bank of Nova Scotia, have acquired new positions in Fortuna Mining, contributing to a total of 33.80% institutional ownership of the company's stock.
• Analysts have mixed ratings on Fortuna Mining, with a price target increase from $6.00 to $7.00 from Scotiabank, while the average rating remains a "Hold" with a target price of $7.50.

Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. trimmed its holdings in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 63.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,600 shares of the basic materials company's stock after selling 47,000 shares during the quarter. Fortuna Mining comprises about 0.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s investment portfolio, making the stock its 19th largest holding. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Fortuna Mining were worth $168,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FSM. Optiver Holding B.V. bought a new position in Fortuna Mining in the 4th quarter valued at about $26,000. PCG Wealth Advisors LLC bought a new position in Fortuna Mining in the 1st quarter valued at about $61,000. Bank of Nova Scotia bought a new position in Fortuna Mining in the 4th quarter valued at about $46,000. TD Waterhouse Canada Inc. grew its holdings in shares of Fortuna Mining by 24.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 2,440 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Fortuna Mining during the 4th quarter valued at approximately $57,000. 33.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSM shares. CIBC lifted 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. National Bankshares reaffirmed a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Scotiabank lifted 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 report on Wednesday. Finally, Wall Street Zen upgraded shares of Fortuna Mining from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Fortuna Mining currently has a consensus rating of "Hold" and an average price target of $8.00.

Fortuna Mining Trading Up 2.2%

NYSE:FSM traded up $0.16 during mid-day trading on Wednesday, hitting $7.10. 8,172,999 shares of the company's stock were exchanged, compared to its average volume of 14,898,010. The company has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $5.87. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.12. Fortuna Mining Corp. has a fifty-two week low of $4.10 and a fifty-two week high of $7.55. The firm has a market capitalization of $2.18 billion, a P/E ratio of 13.91 and a beta of 0.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last issued its quarterly 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 firm had revenue of $290.15 million during 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%. As a group, research 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.