Jump Financial LLC Takes $14.08 Million Position 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 bought a new position in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,307,495 shares of the basic materials company's stock, valued at approximately $14,076,000. Jump Financial LLC owned about 0.75% of Fortuna Mining at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in Fortuna Mining in the fourth quarter worth about $26,000. TD Waterhouse Canada Inc. raised its position in Fortuna Mining by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock worth $53,000 after purchasing an additional 2,440 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Fortuna Mining in the fourth quarter worth about $57,000. PCG Wealth Advisors LLC acquired a new position in Fortuna Mining in the first quarter worth about $61,000. Finally, Mariner LLC acquired a new position in Fortuna Mining in the fourth quarter worth about $63,000. Institutional investors and hedge funds own 33.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on FSM shares. National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a research note on Tuesday, June 24th. BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a research note on Friday, August 8th. Wall Street Zen cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Scotiabank raised their price objective on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Finally, Zacks Research cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.00.

Fortuna Mining Stock Performance

NYSE FSM traded up $0.19 on Friday, reaching $7.64. 9,224,682 shares of the stock were exchanged, compared to its average volume of 14,715,435. The firm has a market capitalization of $2.34 billion, a PE ratio of 15.30 and a beta of 0.85. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $7.69. The company's 50-day simple moving average is $6.81 and its two-hundred day simple moving average is $6.14.

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