Renaissance Technologies LLC Cuts Stake in Fortuna Mining Corp. $FSM

Renaissance Technologies LLC lowered its stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 40.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 905,400 shares of the basic materials company’s stock after selling 612,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Fortuna Mining were worth $8,991,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Fortuna Mining in the 4th quarter worth approximately $586,000. U S Global Investors Inc. bought a new position in Fortuna Mining during the fourth quarter valued at $5,499,000. World Investment Advisors bought a new position in Fortuna Mining during the fourth quarter valued at $1,415,000. Channing Global Advisors LLC purchased a new stake in Fortuna Mining in the first quarter worth $1,232,000. Finally, Intact Investment Management Inc. purchased a new stake in Fortuna Mining in the fourth quarter worth $1,239,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Analyst Ratings Changes

FSM has been the topic of a number of recent research reports. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a research note on Thursday. Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Fortuna Mining presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Fortuna Mining Trading Up 0.1%

Shares of Fortuna Mining stock opened at $8.44 on Monday. Fortuna Mining Corp. has a 12-month low of $6.17 and a 12-month high of $13.85. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 7.96 and a beta of 1.01. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $8.80 and its 200-day moving average price is $9.98.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. On average, equities analysts expect that Fortuna Mining Corp. will post 1.32 earnings per share 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.