Fortuna Mining Corp. $FSM Stake Increased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 33.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,394,600 shares of the basic materials company’s stock after buying an additional 346,716 shares during the period. Royal Bank of Canada owned about 0.46% of Fortuna Mining worth $13,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Centric Wealth Management lifted its stake in shares of Fortuna Mining by 10.0% in the 4th quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 1,000 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in Fortuna Mining by 1.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after buying an additional 1,500 shares during the last quarter. DGS Capital Management LLC increased its position in Fortuna Mining by 15.8% during the first quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock worth $120,000 after buying an additional 1,649 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after buying an additional 2,000 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Fortuna Mining by 22.2% during the fourth quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock valued at $141,000 after buying an additional 2,605 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on FSM shares. Zacks Research upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings downgraded Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Wall Street Zen lowered Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Fortuna Mining Stock Up 8.9%

Shares of FSM opened at $10.41 on Friday. 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 50-day simple moving average of $8.78 and a 200-day simple moving average of $9.95. Fortuna Mining Corp. has a 52 week low of $6.33 and a 52 week high of $13.85. The firm has a market capitalization of $3.08 billion, a P/E ratio of 8.83 and a beta of 1.01.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share 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 analyst estimates of $325.00 million. Fortuna Mining had a return on equity of 17.66% and a net margin of 31.99%. On average, equities research analysts expect that Fortuna Mining Corp. will post 1.32 earnings per share for the current year.

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.