MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Fortuna Mining Corp. $FSM

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. grew its stake in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 11.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,372,171 shares of the basic materials company's stock after buying an additional 859,398 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.73% of Fortuna Mining worth $50,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FSM. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. purchased a new stake in shares of Fortuna Mining during the 4th quarter valued at $320,000. Raymond James Financial Inc. purchased a new stake in shares of Fortuna Mining during the 4th quarter valued at $523,000. Mariner LLC purchased a new position in Fortuna Mining in the 4th quarter worth $63,000. AXA S.A. raised its position in Fortuna Mining by 1,994.5% in the 4th quarter. AXA S.A. now owns 229,704 shares of the basic materials company's stock worth $985,000 after purchasing an additional 218,737 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Fortuna Mining in the 4th quarter worth $801,000. Hedge funds and other institutional investors own 33.80% of the company's stock.

Fortuna Mining Stock Up 1.9%

NYSE FSM traded up $0.15 during trading hours on Wednesday, reaching $7.89. 22,951,732 shares of the company's stock traded hands, compared to its average volume of 14,965,497. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. The firm has a market cap of $2.42 billion, a PE ratio of 15.77 and a beta of 0.85. Fortuna Mining Corp. has a 52-week low of $4.13 and a 52-week high of $8.07. The firm has a 50-day simple moving average of $6.99 and a 200 day simple moving average of $6.30.

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 the consensus estimate of $0.22 by ($0.08). The firm had revenue of $230.42 million during the quarter, compared to analysts' expectations of $220.00 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. Sell-side analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FSM. Zacks Research cut shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. BMO Capital Markets reissued an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. Wall Street Zen lowered shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. CIBC raised their price target 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. Finally, National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. 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. According to data from MarketBeat.com, Fortuna Mining has an average rating of "Hold" and an average target price of $8.00.

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.