U S Global Investors Inc. Decreases Stake in Fortuna Mining Corp. $FSM

U S Global Investors Inc. cut its stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,650 shares of the basic materials company’s stock after selling 176,951 shares during the quarter. U S Global Investors Inc.’s holdings in Fortuna Mining were worth $3,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Fortuna Mining during the 4th quarter valued at about $586,000. World Investment Advisors purchased a new stake in Fortuna Mining in the fourth quarter valued at approximately $1,415,000. Intact Investment Management Inc. acquired a new position in Fortuna Mining in the 4th quarter worth approximately $1,239,000. Channing Global Advisors LLC purchased a new position in Fortuna Mining during the 1st quarter worth approximately $1,232,000. Finally, Chase Investment Counsel Corp acquired a new stake in Fortuna Mining during the 4th quarter valued at approximately $3,641,000. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSM. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Finally, Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.00.

Fortuna Mining Stock Performance

NYSE FSM traded down $0.07 during mid-day trading on Friday, reaching $8.50. 4,066,636 shares of the stock were exchanged, compared to its average volume of 4,369,225. The company has a market capitalization of $2.55 billion, a P/E ratio of 8.02 and a beta of 0.99. 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 business’s 50 day moving average is $9.25 and its 200-day moving average is $10.15. Fortuna Mining Corp. has a 1 year low of $6.17 and a 1 year high of $13.85.

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