U S Global Investors Inc. Sells 176,951 Shares of Fortuna Mining Corp. $FSM

U S Global Investors Inc. lowered its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 31.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 383,650 shares of the basic materials company’s stock after selling 176,951 shares during the period. U S Global Investors Inc. owned about 0.13% of Fortuna Mining worth $3,810,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake 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 worth $26,000 after acquiring an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new position in Fortuna Mining during the 3rd quarter valued at about $27,000. IFP Advisors Inc purchased a new position in Fortuna Mining during the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings 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 purchasing an additional 3,006 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 25th. Finally, Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Fortuna Mining Stock Down 0.8%

Shares of FSM traded down $0.07 during midday trading on Friday, hitting $8.50. 4,066,636 shares of the company’s stock traded hands, compared to its average volume of 4,369,225. 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 stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 8.02 and a beta of 0.99. Fortuna Mining Corp. has a 1 year low of $6.17 and a 1 year high of $13.85. The firm’s fifty day moving average is $9.25 and its 200-day moving average is $10.15.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business 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%. As a group, sell-side analysts anticipate that Fortuna Mining Corp. will post 1.43 earnings per share for the current year.

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.