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

TD Asset Management Inc decreased its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 owned 0.53% of Fortuna Mining worth $15,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its position in Fortuna Mining by 26.2% in the 3rd quarter. American Century Companies Inc. now owns 8,032,284 shares of the basic materials company’s stock worth $71,924,000 after buying an additional 1,669,226 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Fortuna Mining in the 3rd quarter worth approximately $550,000. Quantbot Technologies LP lifted its position in Fortuna Mining by 190.4% in the 3rd quarter. Quantbot Technologies LP now owns 465,375 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 305,115 shares during the last quarter. Causeway Capital Management LLC bought a new stake in Fortuna Mining in the 3rd quarter worth approximately $1,038,000. Finally, Allianz Asset Management GmbH bought a new stake in Fortuna Mining in the 3rd quarter worth approximately $1,648,000. Institutional investors own 33.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FSM. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research cut Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Fortuna Mining Price Performance

Shares of Fortuna Mining stock opened at $8.76 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. The business’s 50 day simple moving average is $9.98 and its two-hundred day simple moving average is $10.28. The stock has a market capitalization of $2.65 billion, a P/E ratio of 8.26 and a beta of 0.94. Fortuna Mining Corp. has a one year low of $6.17 and a one year high of $13.85.

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

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.