Klein Pavlis & Peasley Financial Inc. Has $736,000 Position in Fortuna Mining Corp. (NYSE:FSM)

Key Points

• Klein Pavlis & Peasley Financial Inc. reduced its stake in Fortuna Mining Corp. by 58.2%, selling over 167,000 shares to hold approximately 119,990 shares worth $736,000.
• Fortuna Mining reported a net margin of 14.28% and earnings per share of $0.20 for the most recent quarter, missing analysts' expectations of $0.21.
• Several analysts have adjusted their price targets for Fortuna Mining, with CIBC raising its target from $7.00 to $8.00, while the consensus target price is currently $7.50.

Klein Pavlis & Peasley Financial Inc. trimmed its holdings in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 58.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,990 shares of the basic materials company's stock after selling 167,367 shares during the quarter. Klein Pavlis & Peasley Financial Inc.'s holdings in Fortuna Mining were worth $736,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Fortuna Mining in the 4th quarter valued at about $523,000. Commonwealth Equity Services LLC increased its holdings in Fortuna Mining by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company's stock valued at $88,000 after buying an additional 2,000 shares during the period. LPL Financial LLC increased its holdings in Fortuna Mining by 65.4% in the 4th quarter. LPL Financial LLC now owns 93,505 shares of the basic materials company's stock valued at $401,000 after buying an additional 36,963 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. bought a new position in Fortuna Mining in the 4th quarter valued at about $320,000. Finally, Franklin Resources Inc. increased its holdings in Fortuna Mining by 15.5% in the 4th quarter. Franklin Resources Inc. now owns 292,798 shares of the basic materials company's stock valued at $1,255,000 after buying an additional 39,298 shares during the period. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Trading Up 2.2%

Shares of NYSE:FSM traded up $0.16 during trading on Wednesday, reaching $7.10. The stock had a trading volume of 8,172,999 shares, compared to its average volume of 14,898,010. The firm's fifty day moving average is $6.65 and its 200 day moving average is $5.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.56 and a current ratio of 2.04. Fortuna Mining Corp. has a 52 week low of $4.10 and a 52 week high of $7.55. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 13.91 and a beta of 0.85.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotiabank raised their target price on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a report on Wednesday. Wall Street Zen raised shares of Fortuna Mining from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. National Bankshares reaffirmed a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Finally, CIBC boosted their target price 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. One investment 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.00.

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.