Y Intercept Hong Kong Ltd Boosts Holdings in Fortuna Mining Corp. $FSM

Y Intercept Hong Kong Ltd grew its stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 71.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 353,533 shares of the basic materials company’s stock after buying an additional 147,029 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Fortuna Mining were worth $3,511,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted 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 period. Arrowstreet Capital Limited Partnership boosted its position in Fortuna Mining by 80.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock worth $174,866,000 after acquiring an additional 8,706,611 shares during the last quarter. Vanguard Group Inc. raised its stake 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 acquiring an additional 4,297,370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after buying an additional 3,779,920 shares during the period. Finally, Invesco Ltd. increased 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 worth $27,944,000 after purchasing an additional 2,865,367 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FSM. Zacks Research cut shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Fortuna Mining Stock Down 3.3%

Shares of NYSE FSM traded down $0.28 during mid-day trading on Tuesday, reaching $8.39. 1,743,717 shares of the company traded hands, compared to its average volume of 6,790,894. The company’s fifty day moving average is $9.37 and its two-hundred day moving average is $10.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 3.17. Fortuna Mining Corp. has a fifty-two week low of $6.17 and a fifty-two week high of $13.85. The stock has a market cap of $2.51 billion, a PE ratio of 7.91 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $342.47 million for the quarter, compared to analyst estimates of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. On average, analysts expect that Fortuna Mining Corp. will post 1.43 earnings per share for the current year.

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.