U S Global Investors Inc. Sells 23,571 Shares of Fortuna Mining Corp. $FSM

U S Global Investors Inc. lessened its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 553,143 shares of the basic materials company’s stock after selling 23,571 shares during the quarter. U S Global Investors Inc. owned about 0.18% of Fortuna Mining worth $3,618,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Fortuna Mining by 2.4% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 122,877 shares of the basic materials company’s stock valued at $804,000 after acquiring an additional 2,887 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Fortuna Mining by 0.9% during the 1st quarter. NewEdge Advisors LLC now owns 383,400 shares of the basic materials company’s stock valued at $2,339,000 after acquiring an additional 3,600 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Fortuna Mining during the 2nd quarter valued at about $42,000. Virtus Advisers LLC bought a new stake in shares of Fortuna Mining during the 1st quarter valued at about $58,000. Finally, PCG Wealth Advisors LLC bought a new stake in Fortuna Mining in the 1st quarter worth approximately $61,000. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Price Performance

Shares of Fortuna Mining stock opened at $8.85 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. The business’s 50 day simple moving average is $7.88 and its two-hundred day simple moving average is $6.84. The stock has a market capitalization of $2.72 billion, a P/E ratio of 17.70 and a beta of 0.84. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $9.59.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). The company had revenue of $230.42 million during the quarter, compared to analysts’ expectations of $220.00 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. Analysts forecast that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FSM shares. CIBC boosted their target price on Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “buy (b-)” rating on shares of Fortuna Mining in a research report on Saturday, September 27th. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Scotiabank boosted their target price on Fortuna Mining from $7.50 to $8.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.00.

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.