U S Global Investors Inc. Purchases New Position in Fortuna Mining Corp. $FSM

U S Global Investors Inc. purchased a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 560,601 shares of the basic materials company’s stock, valued at approximately $5,499,000.

Several other large investors have also made changes to their positions in FSM. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 2,000 shares in the last quarter. Advisory Services Network LLC bought a new stake in Fortuna Mining during the third quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 2,691 shares during the period. Osaic Holdings Inc. boosted 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 purchasing an additional 3,006 shares during the period. Finally, Employees Retirement System of Texas boosted its position in Fortuna Mining by 1,250.0% during the third quarter. Employees Retirement System of Texas now owns 7,263 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 6,725 shares during the period. Institutional investors own 33.80% of the company’s stock.

Wall Street Analysts Forecast Growth

FSM has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Zacks Research raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Scotiabank upped their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Performance

Shares of NYSE FSM opened at $10.12 on Friday. The business has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $9.99. The company has a current ratio of 2.98, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.24 and a beta of 1.01. Fortuna Mining Corp. has a one year low of $5.23 and a one year high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The company had revenue of $270.20 million for the quarter. Sell-side analysts expect that Fortuna Mining Corp. will post 1.78 EPS 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.