Russell Investments Group Ltd. Has $5.70 Million Holdings in 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 holdings in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 14.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 935,099 shares of the basic materials company's stock after buying an additional 117,228 shares during the quarter. Russell Investments Group Ltd. owned about 0.30% of Fortuna Mining worth $5,701,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FSM. LPL Financial LLC lifted its holdings in shares of Fortuna Mining by 65.4% during the fourth quarter. LPL Financial LLC now owns 93,505 shares of the basic materials company's stock worth $401,000 after buying an additional 36,963 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Fortuna Mining during the fourth quarter worth approximately $320,000. Geode Capital Management LLC increased its position in shares of Fortuna Mining by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 148,408 shares of the basic materials company's stock valued at $644,000 after purchasing an additional 7,103 shares during the period. Invesco Ltd. increased its position in shares of Fortuna Mining by 1,558.0% during the fourth quarter. Invesco Ltd. now owns 1,940,748 shares of the basic materials company's stock valued at $8,326,000 after purchasing an additional 1,823,695 shares during the period. Finally, Legal & General Group Plc increased its position in shares of 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 period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank boosted their price objective on Fortuna Mining from $7.50 to $8.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 6th. Wall Street Zen cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. BMO Capital Markets restated an "outperform" rating on shares of Fortuna Mining in a research report on Friday, August 8th. Zacks Research cut Fortuna Mining from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, CIBC boosted 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, July 15th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.00.

Fortuna Mining Stock Performance

Shares of NYSE:FSM opened at $7.0750 on Thursday. The business's fifty day moving average price is $6.73 and its two-hundred day moving average price is $6.05. Fortuna Mining Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $7.55. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15.

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 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 company had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. As a group, analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

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.

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