Versor Investments LP Cuts Position in Fortuna Mining Corp. $FSM

Versor Investments LP lowered its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 70.2% during the third quarter, HoldingsChannel.com reports. The firm owned 29,000 shares of the basic materials company’s stock after selling 68,400 shares during the period. Versor Investments LP’s holdings in Fortuna Mining were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in shares of Fortuna Mining by 100.0% during the 2nd 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 during the period. EverSource Wealth Advisors LLC grew its stake in 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 valued at $31,000 after acquiring an additional 2,691 shares during the period. Osaic Holdings Inc. increased its holdings 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 worth $40,000 after acquiring an additional 3,006 shares in the last quarter. Centric Wealth Management purchased a new stake in Fortuna Mining in the 2nd quarter worth $66,000. Finally, Marex Group plc acquired a new position in Fortuna Mining during the second quarter worth $68,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Scotiabank raised their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.00.

Fortuna Mining Stock Up 6.4%

Shares of NYSE FSM opened at $11.06 on Friday. The stock has a market cap of $3.37 billion, a PE ratio of 15.35 and a beta of 0.88. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. Fortuna Mining Corp. has a 12-month low of $4.13 and a 12-month high of $12.54. The company has a 50-day moving average of $10.31 and a 200 day moving average of $8.93.

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.