Fortuna Mining Corp. $FSM Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH decreased its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 66.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,600 shares of the basic materials company’s stock after selling 131,200 shares during the quarter. Erste Asset Management GmbH’s holdings in Fortuna Mining were worth $570,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FSM. Geneos Wealth Management Inc. grew its holdings in Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Fortuna Mining by 32.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 2,126 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 valued at $31,000 after buying an additional 2,691 shares during the period. Osaic Holdings Inc. increased its holdings 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 buying an additional 3,006 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Fortuna Mining by 27.9% in the 3rd quarter. Independent Advisor Alliance now owns 15,245 shares of the basic materials company’s stock worth $137,000 after buying an additional 3,330 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Fortuna Mining from a “buy” rating to a “hold” rating in a research report on Monday. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, Scotiabank lifted their price target on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Price Performance

Shares of NYSE FSM opened at $13.69 on Monday. 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 $4.13 and a 1-year high of $13.84. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.22 and a beta of 0.82. The business has a 50-day moving average of $10.84 and a 200-day moving average of $9.33.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The company had revenue of $270.20 million for the quarter. On average, equities analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

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.