Kingsview Wealth Management LLC Invests $969,000 in Fortuna Mining Corp. (NYSE:FSM)

Kingsview Wealth Management LLC acquired a new stake in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 158,873 shares of the basic materials company's stock, valued at approximately $969,000. Kingsview Wealth Management LLC owned 0.05% of Fortuna Mining as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FSM. Optiver Holding B.V. purchased a new stake in shares of Fortuna Mining in the 4th quarter worth $26,000. Bank of Nova Scotia purchased a new stake in shares of Fortuna Mining in the 4th quarter worth $46,000. TD Waterhouse Canada Inc. lifted its holdings in shares of 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 buying an additional 2,440 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Fortuna Mining in the 4th quarter worth $57,000. Finally, Mariner LLC purchased a new stake in shares of Fortuna Mining in the 4th quarter worth $63,000. Hedge funds and other institutional investors own 33.80% of the company's stock.

Fortuna Mining Price Performance

Shares of Fortuna Mining stock opened at $6.29 on Monday. The business has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $5.69. Fortuna Mining Corp. has a 12 month low of $3.86 and a 12 month high of $7.55. The stock has a market capitalization of $1.93 billion, a P/E ratio of 12.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on FSM. Wall Street Zen raised Fortuna Mining from a "buy" rating to a "strong-buy" rating in a research report on Friday. National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. CIBC boosted their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research report on Tuesday, July 15th. Finally, Scotiabank boosted their price target on Fortuna Mining from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Fortuna Mining presently has a consensus rating of "Hold" and an average target price of $7.50.

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.

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