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

Tudor Investment Corp ET AL trimmed its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 74.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

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

Fortuna Mining Stock Down 1.6%

FSM stock opened at $10.27 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The company’s 50 day simple moving average is $10.96 and its 200-day simple moving average is $9.79. Fortuna Mining Corp. has a 12 month low of $5.13 and a 12 month high of $13.85. The firm has a market capitalization of $3.13 billion, a PE ratio of 11.41 and a beta of 1.01.

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 (EPS) 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 return on equity of 14.02% and a net margin of 27.59%. Equities analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Fortuna Mining 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.