Tudor Investment Corp ET AL Reduces Stock Position in Fortuna Mining Corp. $FSM

Tudor Investment Corp ET AL trimmed its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 74.4% during the third quarter, Holdings Channel.com reports. The firm owned 25,378 shares of the basic materials company’s stock after selling 73,799 shares during the period. Tudor Investment Corp ET AL’s holdings in Fortuna Mining were worth $227,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FSM. Advisory Services Network LLC acquired a new position in shares of Fortuna Mining in the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted its position in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 2,691 shares during the period. Osaic Holdings Inc. raised its holdings in 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 acquiring an additional 3,006 shares during the last quarter. Finally, Employees Retirement System of Texas raised its holdings in Fortuna Mining by 1,250.0% in the 3rd quarter. Employees Retirement System of Texas now owns 7,263 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 6,725 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Trading Down 1.6%

Shares of FSM opened at $10.27 on Friday. Fortuna Mining Corp. has a twelve month low of $5.13 and a twelve month high of $13.85. The firm has a market capitalization of $3.13 billion, a P/E ratio of 11.41 and a beta of 1.01. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $9.79.

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). The firm 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, equities research analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FSM shares. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Scotiabank raised their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.00.

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