Realta Investment Advisors bought a new position in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 66,500 shares of the basic materials company's stock, valued at approximately $406,000.
Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Fortuna Mining in the first quarter worth $445,000. Cambridge Investment Research Advisors Inc. boosted its position in Fortuna Mining by 16.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,951 shares of the basic materials company's stock valued at $451,000 after purchasing an additional 10,690 shares during the last quarter. Bank of America Corp DE boosted its position in Fortuna Mining by 15.4% during the fourth quarter. Bank of America Corp DE now owns 927,264 shares of the basic materials company's stock valued at $3,978,000 after purchasing an additional 123,720 shares during the last quarter. Legal & General Group Plc boosted its position in Fortuna Mining by 10.0% during the fourth quarter. Legal & General Group Plc now owns 863,406 shares of the basic materials company's stock valued at $3,704,000 after purchasing an additional 78,284 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Fortuna Mining by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 303,857 shares of the basic materials company's stock valued at $1,304,000 after purchasing an additional 68,350 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. CIBC lifted their price objective on Fortuna Mining from $7.00 to $8.00 and gave the company an "underperformer" rating in a research report on Tuesday. National Bankshares reissued a "sector perform" rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. 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. Finally, National Bank Financial raised Fortuna Mining to a "hold" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $7.50.
Check Out Our Latest Analysis on FSM
Fortuna Mining Stock Performance
Shares of NYSE FSM traded up $0.04 during trading hours on Tuesday, hitting $6.62. 11,744,022 shares of the company's stock were exchanged, compared to its average volume of 11,420,211. Fortuna Mining Corp. has a 1-year low of $3.86 and a 1-year high of $7.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 12.97 and a beta of 0.94. The company's 50-day moving average price is $6.33 and its 200-day moving average price is $5.62.
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 firm 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%. On average, sell-side analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.
About Fortuna Mining
(
Free Report)
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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