Arrowstreet Capital Limited Partnership Has $198.18 Million Holdings in Fortuna Mining Corp. $FSM

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,216,810 shares of the basic materials company’s stock after buying an additional 686,762 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.07% of Fortuna Mining worth $198,176,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FSM. Geneos Wealth Management Inc. lifted its stake in Fortuna Mining by 100.0% in the 2nd 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. Advisory Services Network LLC acquired a new stake in Fortuna Mining during the third quarter worth approximately $27,000. IFP Advisors Inc acquired a new stake in Fortuna Mining during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its position in 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 worth $31,000 after acquiring an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in 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 acquiring an additional 3,006 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FSM. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research downgraded shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fortuna Mining has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Performance

Shares of NYSE:FSM opened at $8.93 on Monday. The company’s 50 day simple moving average is $9.88 and its 200 day simple moving average is $10.28. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 8.43 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. 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 announced its quarterly earnings data 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 firm had revenue of $342.47 million during the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. As a group, research analysts predict that Fortuna Mining Corp. will post 1.43 EPS for the current fiscal 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.