Hillsdale Investment Management Inc. Trims Stock Holdings in Fortuna Mining Corp. $FSM

Hillsdale Investment Management Inc. trimmed its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 50.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,361,635 shares of the basic materials company’s stock after selling 1,404,805 shares during the period. Hillsdale Investment Management Inc. owned 0.45% of Fortuna Mining worth $13,367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in Fortuna Mining by 43.5% in the third quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after purchasing an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Fortuna Mining by 80.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock worth $174,866,000 after purchasing an additional 8,706,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fortuna Mining by 38.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after purchasing an additional 3,779,920 shares during the period. Dimensional Fund Advisors LP grew its stake in Fortuna Mining by 17.0% in the third quarter. Dimensional Fund Advisors LP now owns 9,307,942 shares of the basic materials company’s stock worth $83,389,000 after purchasing an additional 1,351,971 shares during the period. Finally, Tidal Investments LLC grew its stake in Fortuna Mining by 31.4% in the third quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock worth $80,169,000 after purchasing an additional 2,138,143 shares during the period. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSM has been the topic of several recent research reports. Zacks Research downgraded Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Weiss Ratings downgraded Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortuna Mining currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Trading Up 2.5%

Shares of NYSE FSM opened at $10.05 on Friday. The firm’s 50 day moving average price is $9.95 and its 200-day moving average price is $10.23. Fortuna Mining Corp. has a 52-week low of $5.67 and a 52-week high of $13.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. The company has a market cap of $3.06 billion, a PE ratio of 9.48 and a beta of 0.94.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. On average, equities research analysts expect that Fortuna Mining Corp. will post 1.43 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.