Jupiter Asset Management Ltd. Purchases Shares of 61,432 Fortuna Mining Corp. $FSM

Jupiter Asset Management Ltd. acquired a new position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 61,432 shares of the basic materials company’s stock, valued at approximately $550,000.

Other large investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 2,000 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Fortuna Mining by 126.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Fortuna Mining by 96.7% during the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 3,006 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Fortuna Mining by 32.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 2,126 shares during the last quarter. Finally, Centric Wealth Management purchased a new stake in shares of Fortuna Mining during the 2nd quarter valued at $66,000. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $12.25 on Monday. The business has a fifty day moving average of $10.46 and a 200 day moving average of $9.09. Fortuna Mining Corp. has a 1 year low of $4.13 and a 1 year high of $12.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.61 and a beta of 0.88.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million during the quarter. As a group, research analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share for the current year.

Analysts Set New Price Targets

FSM has been the topic of several research analyst reports. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Scotiabank raised their price target on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. Zacks Research upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.00.

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.