50,700 Shares in Fortuna Mining Corp. $FSM Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC acquired a new position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 50,700 shares of the basic materials company’s stock, valued at approximately $454,000.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares in the last quarter. Osaic Holdings Inc. grew its stake in Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 3,006 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Fortuna Mining in the 2nd quarter valued at about $42,000. Finally, Centric Wealth Management purchased a new position in Fortuna Mining during the 2nd quarter valued at about $66,000. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FSM has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a report on Monday. Scotiabank raised Fortuna Mining from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $10.50 to $11.00 in a research note on Monday, November 24th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a report on Tuesday, December 23rd. Finally, National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.50.

Fortuna Mining Stock Up 0.2%

FSM stock opened at $9.95 on Wednesday. The company has a 50 day moving average price of $9.03 and a two-hundred day moving average price of $8.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The stock has a market capitalization of $3.05 billion, a P/E ratio of 13.81 and a beta of 0.95. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $10.38.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). The business had revenue of $246.75 million for the quarter, compared to analyst estimates of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. As a group, sell-side analysts expect that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Fortuna Mining 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.