Klein Pavlis & Peasley Financial Inc. Buys 2,887 Shares of Fortuna Mining Corp. $FSM

Klein Pavlis & Peasley Financial Inc. increased its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,877 shares of the basic materials company’s stock after acquiring an additional 2,887 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Fortuna Mining were worth $804,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in Fortuna Mining during the second quarter worth about $42,000. Virtus Advisers LLC acquired a new stake in shares of Fortuna Mining during the first quarter worth about $58,000. PCG Wealth Advisors LLC bought a new position in shares of Fortuna Mining during the 1st quarter valued at about $61,000. Quarry LP acquired a new position in shares of Fortuna Mining in the 1st quarter valued at approximately $82,000. Finally, FORA Capital LLC bought a new stake in Fortuna Mining during the 1st quarter worth approximately $85,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. CIBC boosted their price objective on shares of Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research report on Tuesday, July 15th. Wall Street Zen cut Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, National Bankshares restated a “sector perform” rating on shares of Fortuna Mining in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fortuna Mining presently has an average rating of “Hold” and an average price target of $8.00.

Fortuna Mining Stock Up 1.1%

NYSE:FSM opened at $8.66 on Monday. Fortuna Mining Corp. has a twelve month low of $4.13 and a twelve month high of $8.83. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.31 and a beta of 0.85. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $7.43 and its two-hundred day moving average price is $6.64.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). The firm had revenue of $230.42 million during the quarter, compared to the consensus estimate of $220.00 million. Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. Equities research analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share 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.