Fortuna Mining Corp. $FSM Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Fortuna Mining Corp. by 11.4% to approximately 8.37 million shares, valued at about $50.9 million.
• Several hedge funds, including PCG Wealth Advisors and Quarry LP, also acquired new positions in Fortuna Mining during the first quarter, contributing to institutional investors owning 33.8% of the company.
• Fortuna Mining reported earnings of $0.14 per share for the last quarter, missing expectations, while its revenue was $230.42 million, slightly exceeding analyst estimates.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,372,171 shares of the basic materials company's stock after purchasing an additional 859,398 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.73% of Fortuna Mining worth $50,899,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Virtus Advisers LLC bought a new stake in shares of Fortuna Mining during the first quarter valued at approximately $58,000. PCG Wealth Advisors LLC bought a new position in shares of Fortuna Mining in the first quarter worth about $61,000. Mariner LLC bought a new position in Fortuna Mining in the fourth quarter valued at about $63,000. Vanguard Capital Wealth Advisors bought a new position in shares of Fortuna Mining in the 4th quarter valued at about $67,000. Finally, Quarry LP bought a new position in shares of Fortuna Mining in the 1st quarter valued at about $82,000. Institutional investors own 33.80% of the company's stock.

Fortuna Mining Stock Performance

NYSE:FSM traded up $0.44 during trading hours on Thursday, reaching $8.32. 11,157,573 shares of the company's stock were exchanged, compared to its average volume of 14,934,306. Fortuna Mining Corp. has a 1-year low of $4.13 and a 1-year high of $8.32. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $7.02 and a 200 day moving average of $6.31. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 16.63 and a beta of 0.85.

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

Wall Street Analyst Weigh In

FSM has been the topic of a number of recent analyst reports. Zacks Research cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Wall Street Zen cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. CIBC raised their target price on Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a report on Tuesday, July 15th. Scotiabank increased their price target on Fortuna Mining from $7.50 to $8.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Fortuna Mining has a consensus 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.