Dynamic Technology Lab Private Ltd Has $778,000 Stock Holdings in Fortuna Mining Corp. $FSM

Dynamic Technology Lab Private Ltd trimmed its stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 67.0% in the third quarter, Holdings Channel.com reports. The fund owned 86,870 shares of the basic materials company’s stock after selling 176,355 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Fortuna Mining were worth $778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSM. 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 acquiring an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 holdings in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares during the last quarter. Centric Wealth Management acquired a new position in shares of Fortuna Mining in the 2nd quarter worth approximately $66,000. Finally, Marex Group plc acquired a new position in shares of Fortuna Mining in the 2nd quarter worth approximately $68,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSM has been the subject of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Scotiabank upped their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Fortuna Mining from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, National Bank Financial raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, Fortuna Mining currently has a consensus rating of “Buy” and an average price target of $11.00.

Fortuna Mining Trading Up 0.9%

Shares of Fortuna Mining stock opened at $11.63 on Tuesday. The company has a market capitalization of $3.55 billion, a P/E ratio of 12.92 and a beta of 0.82. The stock has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $9.54. Fortuna Mining Corp. has a 12-month low of $4.65 and a 12-month high of $13.85. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $270.20 million for the quarter. Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. On average, sell-side analysts anticipate that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

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