Groupe la Francaise Boosts Stake in Fortuna Mining Corp. $FSM

Groupe la Francaise boosted its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,130,000 shares of the basic materials company’s stock after purchasing an additional 106,620 shares during the period. Groupe la Francaise’s holdings in Fortuna Mining were worth $9,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of FSM. Royal Bank of Canada lifted its position in shares of Fortuna Mining by 33.1% during the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after purchasing an additional 346,716 shares during the last quarter. World Investment Advisors bought a new position in shares of Fortuna Mining in the fourth quarter worth about $1,415,000. Dimensional Fund Advisors LP lifted its holdings in Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock valued at $105,576,000 after buying an additional 567,558 shares in the last quarter. Bank of America Corp DE lifted its holdings in Fortuna Mining by 9.8% during the 1st quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock valued at $28,363,000 after buying an additional 255,336 shares in the last quarter. Finally, Channing Global Advisors LLC purchased a new stake in Fortuna Mining in the 1st quarter valued at about $1,232,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FSM. Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Finally, Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Fortuna Mining has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Stock Up 0.1%

Shares of Fortuna Mining stock opened at $12.32 on Monday. The firm’s 50 day moving average price is $9.84 and its 200-day moving average price is $10.06. The company has a quick ratio of 2.50, a current ratio of 3.00 and a debt-to-equity ratio of 0.11. Fortuna Mining Corp. has a 52-week low of $7.59 and a 52-week high of $13.85. The company has a market cap of $3.65 billion, a P/E ratio of 10.44 and a beta of 1.08.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $318.41 million for the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. On average, sell-side analysts predict that Fortuna Mining Corp. will post 1.24 EPS 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.