Erste Asset Management GmbH Decreases Stake in Fortuna Mining Corp. $FSM

Erste Asset Management GmbH cut its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 66.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,600 shares of the basic materials company’s stock after selling 131,200 shares during the period. Erste Asset Management GmbH’s holdings in Fortuna Mining were worth $570,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. boosted its holdings in Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 3,006 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Fortuna Mining by 32.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after buying an additional 2,126 shares during the last quarter. Finally, Centric Wealth Management purchased a new position in shares of Fortuna Mining during the 2nd quarter valued at approximately $66,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on FSM shares. Scotiabank lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $11.00.

Fortuna Mining Stock Up 0.5%

FSM stock opened at $13.69 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. Fortuna Mining Corp. has a 1-year low of $4.13 and a 1-year high of $13.84. The firm has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $9.33. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 15.22 and a beta of 0.82.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The business had revenue of $270.20 million during the quarter. Research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Fortuna Mining 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.