World Investment Advisors Buys Shares of 144,276 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 filing with the Securities and Exchange Commission. The institutional investor purchased 144,276 shares of the basic materials company’s stock, valued at approximately $1,415,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position 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 buying an additional 2,000 shares during the last quarter. Advisory Services Network LLC purchased a new position in Fortuna Mining during the third quarter worth about $27,000. IFP Advisors Inc acquired a new stake in shares of Fortuna Mining during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its position in shares of Fortuna Mining by 126.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of 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 period. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $9.26 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 8.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. The business has a 50-day moving average of $9.78 and a 200 day moving average of $10.27. Fortuna Mining Corp. has a 12 month low of $6.17 and a 12 month high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued 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). The business had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. As a group, sell-side analysts forecast that Fortuna Mining Corp. will post 1.43 earnings per share 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.