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

Kingsview Wealth Management LLC acquired a new stake in 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 Securities and Exchange Commission (SEC). The fund acquired 158,873 shares of the basic materials company's stock, valued at approximately $969,000. Kingsview Wealth Management LLC owned about 0.05% of Fortuna Mining at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FSM. Optiver Holding B.V. purchased a new stake in Fortuna Mining in the 4th quarter worth approximately $26,000. Bank of Nova Scotia acquired a new stake in shares of Fortuna Mining during the 4th quarter worth $46,000. TD Waterhouse Canada Inc. raised its position 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 acquired a new position in Fortuna Mining in the fourth quarter valued at $57,000. Finally, Mariner LLC purchased a new stake in Fortuna Mining during the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 33.80% of the company's stock.

Fortuna Mining Stock Down 1.2%

Shares of FSM stock traded down $0.09 on Thursday, hitting $6.88. The stock had a trading volume of 11,158,856 shares, compared to its average volume of 11,991,073. Fortuna Mining Corp. has a 52-week low of $3.86 and a 52-week high of $7.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 2.04. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 13.50 and a beta of 0.94. The stock's 50 day moving average is $6.50 and its 200-day moving average is $5.74.

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

Analyst Ratings Changes

A number of research firms have recently commented on FSM. Scotiabank raised their price objective on Fortuna Mining from $6.00 to $7.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. CIBC boosted their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Fortuna Mining from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Finally, National Bankshares restated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.