Groupe la Francaise Grows Position in Fortuna Mining Corp. $FSM

Key Points

• Groupe la Francaise increased its Fortuna Mining stake by 10.4% in the second quarter, adding 106,620 shares to hold 1.13 million shares worth approximately $9.6 million. Institutional investors collectively own 33.8% of the company.
• Analyst sentiment remains generally positive, with three Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $14.00.
• Fortuna Mining reported quarterly EPS of $0.24, below the $0.29 consensus estimate, while revenue of $318.4 million also missed expectations. The stock opened at $12.32 and has traded between $7.59 and $13.85 over the past year.

Groupe la Francaise increased its stake in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 10.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,130,000 shares of the basic materials company's stock after acquiring an additional 106,620 shares during the quarter. Groupe la Francaise owned about 0.38% of Fortuna Mining worth $9,557,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FSM. Arrowstreet Capital Limited Partnership increased its holdings in Fortuna Mining by 3.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company's stock valued at $198,176,000 after acquiring an additional 686,762 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company's stock valued at $122,747,000 after purchasing an additional 3,779,920 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company's stock valued at $105,576,000 after purchasing an additional 567,558 shares during the last quarter. Tidal Investments LLC grew its position in shares of Fortuna Mining by 31.4% during the third quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company's stock valued at $80,169,000 after purchasing an additional 2,138,143 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company's stock valued at $51,046,000 after purchasing an additional 1,368,600 shares in the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FSM. Weiss Ratings downgraded Fortuna Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Scotiabank restated an "outperform" rating on shares of Fortuna Mining in a report on Thursday, July 30th. Wall Street Zen downgraded Fortuna Mining from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Finally, Zacks Research raised Fortuna Mining from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.00.

Fortuna Mining Stock Performance

Fortuna Mining stock opened at $12.32 on Monday. The company's 50-day moving average price is $9.84 and its 200-day moving average price is $10.06. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.65 billion, a PE ratio of 10.44 and a beta of 1.08. Fortuna Mining Corp. has a twelve month low of $7.59 and a twelve month high of $13.85.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). The business had revenue of $318.41 million during the quarter, compared to the consensus estimate of $325.00 million. Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. On average, equities research analysts forecast that Fortuna Mining Corp. will post 1.24 EPS for the current fiscal year.

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.

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