Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. Has $168,000 Position in 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. decreased its position in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 63.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,600 shares of the basic materials company's stock after selling 47,000 shares during the quarter. Fortuna Mining makes up about 0.7% of Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings, making the stock its 19th largest position. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.'s holdings in Fortuna Mining were worth $168,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. purchased a new position in Fortuna Mining in the fourth quarter valued at about $26,000. Bank of Nova Scotia purchased a new stake in Fortuna Mining in the 4th quarter worth approximately $46,000. 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 during the period. Dark Forest Capital Management LP acquired a new position in shares of Fortuna Mining in the 4th quarter valued at $57,000. Finally, PCG Wealth Advisors LLC acquired a new position in shares of Fortuna Mining in the 1st quarter valued at $61,000. Hedge funds and other institutional investors own 33.80% of the company's stock.

Fortuna Mining Stock Performance

NYSE:FSM traded up $0.32 during midday trading on Monday, reaching $6.71. The stock had a trading volume of 8,371,833 shares, compared to its average volume of 14,987,232. Fortuna Mining Corp. has a 1-year low of $3.86 and a 1-year high of $7.55. The firm's fifty day simple moving average is $6.61 and its 200-day simple moving average is $5.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56. The stock has a market capitalization of $2.06 billion, a P/E ratio of 13.15 and a beta of 0.85.

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

Wall Street Analyst Weigh In

FSM has been the topic of several recent research reports. CIBC lifted their target price 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. Wall Street Zen upgraded shares of Fortuna Mining from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Scotiabank boosted their target price on shares of Fortuna Mining from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Finally, National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. One investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.