TD Asset Management Inc Sells 135,785 Shares of Fortuna Mining Corp. $FSM

TD Asset Management Inc reduced its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,629,640 shares of the basic materials company’s stock after selling 135,785 shares during the quarter. TD Asset Management Inc’s holdings in Fortuna Mining were worth $15,990,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FSM. Geneos Wealth Management Inc. grew its position in shares of Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after buying an additional 2,000 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Fortuna Mining in the 3rd quarter worth approximately $27,000. IFP Advisors Inc bought a new stake in shares of Fortuna Mining in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its position in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. grew 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 worth $40,000 after buying an additional 3,006 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Trading Up 0.7%

NYSE FSM opened at $8.76 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10. Fortuna Mining Corp. has a twelve month low of $6.17 and a twelve month high of $13.85. The firm has a market capitalization of $2.65 billion, a PE ratio of 8.26 and a beta of 0.94. The stock’s 50 day moving average is $9.98 and its 200 day moving average is $10.28.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Research analysts forecast that Fortuna Mining Corp. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FSM has been the topic of a number of recent analyst reports. Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.00.

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