Jump Financial LLC Invests $14.08 Million in Fortuna Mining Corp. $FSM

Key Points

• Jump Financial LLC invested approximately $14.08 million in Fortuna Mining Corp, acquiring 2,307,495 shares, thereby owning about 0.75% of the company by the end of the last reporting period.
• Fortuna Mining's quarterly earnings report showed earnings per share of $0.14, which missed analysts' expectations of $0.22, despite achieving revenues of $230.42 million.
• Analyst sentiments on Fortuna Mining are mixed, with ratings ranging from "buy" to "sell," and an average target price set at $8.00.

Jump Financial LLC purchased a new position in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,307,495 shares of the basic materials company's stock, valued at approximately $14,076,000. Jump Financial LLC owned approximately 0.75% of Fortuna Mining at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FSM. Optiver Holding B.V. purchased a new stake in shares of Fortuna Mining during the fourth quarter worth about $26,000. TD Waterhouse Canada Inc. grew its holdings in shares of Fortuna Mining by 24.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after buying an additional 2,440 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Fortuna Mining during the fourth quarter worth about $57,000. PCG Wealth Advisors LLC purchased a new stake in shares of Fortuna Mining during the first quarter worth about $61,000. Finally, Mariner LLC purchased a new stake in shares of Fortuna Mining during the fourth quarter worth about $63,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. CIBC lifted their price target on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a report on Tuesday, July 15th. BMO Capital Markets reiterated an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. Wall Street Zen downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Finally, Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fortuna Mining currently has an average rating of "Hold" and an average target price of $8.00.

Fortuna Mining Trading Up 2.8%

Shares of FSM stock opened at $7.5550 on Friday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 15.11 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. Fortuna Mining Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $7.67. The firm's 50 day moving average price is $6.75 and its two-hundred day moving average price is $6.09.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). The business had revenue of $230.42 million for the quarter, compared to analyst estimates of $220.00 million. Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. On average, analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS 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.

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