World Investment Advisors Takes $1.42 Million Position in Fortuna Mining Corp. $FSM

World Investment Advisors purchased a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 144,276 shares of the basic materials company’s stock, valued at approximately $1,415,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSM. Van ECK Associates Corp raised its position in shares of Fortuna Mining by 43.5% in the 3rd quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock valued at $262,354,000 after purchasing an additional 8,878,857 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Fortuna Mining by 80.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock valued at $174,866,000 after purchasing an additional 8,706,611 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Fortuna Mining by 1,623.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock valued at $40,844,000 after purchasing an additional 4,297,370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Fortuna Mining by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after purchasing an additional 3,779,920 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Fortuna Mining by 1,130.8% in the 3rd quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company’s stock valued at $27,944,000 after purchasing an additional 2,865,367 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Mining Stock Performance

FSM opened at $9.56 on Friday. Fortuna Mining Corp. has a 12-month low of $5.23 and a 12-month high of $13.85. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.91 billion, a PE ratio of 9.02 and a beta of 0.94. The firm has a 50 day moving average of $10.23 and a two-hundred day moving average of $10.12.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted 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). Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%.The business had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. On average, analysts anticipate that Fortuna Mining Corp. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FSM shares. Scotiabank increased their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Fortuna Mining presently has a consensus rating of “Moderate Buy” and a consensus 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.