Intact Investment Management Inc. Takes $1.24 Million Position in Fortuna Mining Corp. $FSM

Intact Investment Management Inc. purchased a new stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 126,400 shares of the basic materials company’s stock, valued at approximately $1,239,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FSM. Van ECK Associates Corp raised its holdings in 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 buying an additional 8,878,857 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in 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 buying an additional 8,706,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 buying an additional 3,779,920 shares during the period. Dimensional Fund Advisors LP raised its holdings in Fortuna Mining by 17.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,307,942 shares of the basic materials company’s stock valued at $83,389,000 after buying an additional 1,351,971 shares during the period. Finally, Tidal Investments LLC raised its holdings in Fortuna Mining by 31.4% in the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock valued at $80,169,000 after buying an additional 2,138,143 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Down 2.9%

Shares of NYSE:FSM opened at $9.21 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The firm has a market capitalization of $2.80 billion, a PE ratio of 10.23 and a beta of 0.94. The firm’s 50-day moving average is $10.74 and its two-hundred day moving average is $10.03. Fortuna Mining Corp. has a 1 year low of $5.23 and a 1 year high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The business had revenue of $270.20 million for the quarter. Analysts predict that Fortuna Mining Corp. will post 1.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.