World Investment Advisors Makes New Investment in Fortuna Mining Corp. $FSM

World Investment Advisors purchased a new position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 144,276 shares of the basic materials company’s stock, valued at approximately $1,415,000.

A number of other institutional investors also recently bought and sold shares of FSM. Royal Bank of Canada raised its position in Fortuna Mining by 98.8% during the 1st quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after buying an additional 576,264 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock worth $51,046,000 after purchasing an additional 1,368,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Fortuna Mining by 189.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock worth $5,127,000 after purchasing an additional 549,665 shares during the period. Geode Capital Management LLC grew its stake in shares of Fortuna Mining by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock worth $1,123,000 after purchasing an additional 6,405 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in shares of Fortuna Mining during the 2nd quarter worth approximately $122,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FSM shares. Weiss Ratings raised shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Scotiabank raised their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Fortuna Mining Price Performance

Fortuna Mining stock opened at $9.56 on Friday. The company’s fifty day moving average price is $10.23 and its 200 day moving average price is $10.12. Fortuna Mining Corp. has a 1 year low of $5.23 and a 1 year high of $13.85. The stock has a market capitalization of $2.91 billion, a P/E ratio of 9.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The company had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. As a group, equities research analysts anticipate that Fortuna Mining Corp. will post 1.43 earnings per share for the current fiscal 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.