Russell Investments Group Ltd. Buys 117,228 Shares of Fortuna Mining Corp. $FSM

Key Points

• Russell Investments Group Ltd. increased its holdings in Fortuna Mining Corp. by 14.3% in Q1, bringing its total to 935,099 shares worth approximately $5.70 million.
• Analysts have mixed views on Fortuna Mining, with price targets recently increased to $8.00 by Scotiabank, while others like Zacks research downgraded the stock rating to "hold."
• Fortuna Mining reported $0.14 earnings per share for the last quarter, missing analysts' expectations of $0.22, alongside a revenue of $230.42 million.

Russell Investments Group Ltd. raised its stake in Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 935,099 shares of the basic materials company's stock after purchasing an additional 117,228 shares during the period. Russell Investments Group Ltd. owned 0.30% of Fortuna Mining worth $5,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FSM. TD Waterhouse Canada Inc. grew its stake in shares of Fortuna Mining by 24.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 12,440 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 2,440 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Fortuna Mining during the fourth quarter worth about $26,000. Geode Capital Management LLC lifted its holdings in shares of Fortuna Mining by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company's stock worth $644,000 after acquiring an additional 7,103 shares during the last quarter. PCG Wealth Advisors LLC bought a new position in shares of Fortuna Mining in the first quarter worth about $61,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fortuna Mining by 16.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,951 shares of the basic materials company's stock worth $451,000 after acquiring an additional 10,690 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Mining Stock Performance

Fortuna Mining stock traded up $0.04 during midday trading on Tuesday, reaching $7.53. The stock had a trading volume of 13,995,926 shares, compared to its average volume of 12,071,862. The firm's 50-day moving average price is $6.78 and its 200 day moving average price is $6.12. Fortuna Mining Corp. has a 12 month low of $4.13 and a 12 month high of $7.67. The firm has a market capitalization of $2.31 billion, a PE ratio of 15.05 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The company had revenue of $230.42 million for the quarter, compared to the consensus estimate of $220.00 million. As a group, research analysts predict that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on FSM shares. National Bankshares reiterated a "sector perform" rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Zacks Research downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. CIBC raised their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an "underperformer" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Scotiabank lifted their price target on shares of Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.