Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 363,206 Fortuna Mining Corp. $FSM

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 363,206 shares of the basic materials company’s stock, valued at approximately $3,607,000.

Other institutional investors have also recently made changes to their positions in the company. Centric Wealth Management raised its stake in 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 boosted its stake in Fortuna Mining by 1.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 1,500 shares during the last quarter. DGS Capital Management LLC grew its holdings in shares of 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 in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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 worth $26,000 after buying an additional 2,000 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Fortuna Mining by 22.2% in 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 during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Fortuna Mining Price Performance

FSM stock opened at $8.78 on Friday. The business has a fifty day moving average of $8.82 and a two-hundred day moving average of $10.00. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 8.28 and a beta of 0.99. Fortuna Mining Corp. has a 52-week low of $6.17 and a 52-week 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 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 business had revenue of $342.47 million during the quarter, compared to analysts’ expectations of $340.00 million. As a group, research analysts anticipate that Fortuna Mining Corp. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.