Dynamic Technology Lab Private Ltd Sells 176,355 Shares of Fortuna Mining Corp. $FSM

Dynamic Technology Lab Private Ltd lowered its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 67.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FSM. Geneos Wealth Management Inc. increased its holdings in shares of 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 purchasing an additional 2,000 shares during the period. EverSource Wealth Advisors LLC increased its stake 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 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 in the last quarter. Centric Wealth Management bought a new stake in shares of Fortuna Mining during the 2nd quarter valued at $66,000. Finally, Marex Group plc acquired a new stake in shares of Fortuna Mining during the 2nd quarter worth $68,000. 33.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FSM has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Scotiabank upped their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Fortuna Mining from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. 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 data from MarketBeat, Fortuna Mining presently has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Up 0.9%

Shares of NYSE FSM opened at $11.63 on Tuesday. The company has a 50 day simple moving average of $11.08 and a 200 day simple moving average of $9.54. 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 $4.65 and a 1 year high of $13.85. The firm has a market cap of $3.55 billion, a PE ratio of 12.92 and a beta of 0.82.

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