Chase Investment Counsel Corp Purchases New Position in Fortuna Mining Corp. $FSM

Chase Investment Counsel Corp purchased a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 371,199 shares of the basic materials company’s stock, valued at approximately $3,641,000.

Several other institutional investors have also recently bought and sold shares of the business. Centric Wealth Management boosted its stake in Fortuna Mining by 10.0% in the fourth quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 purchasing an additional 2,000 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Fortuna Mining by 126.8% in 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 in the last quarter. Advisory Services Network LLC acquired a new position in Fortuna Mining in the third quarter worth $27,000. Finally, Osaic Holdings Inc. boosted its stake in Fortuna Mining by 96.7% in 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 in the last quarter. Institutional investors own 33.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Scotiabank boosted their price objective on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen raised 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 “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Up 0.1%

Shares of Fortuna Mining stock opened at $9.56 on Monday. Fortuna Mining Corp. has a 1 year low of $5.23 and a 1 year high of $13.85. The business has a 50-day moving average of $10.23 and a two-hundred day moving average of $10.14. The company has a market capitalization of $2.91 billion, a P/E ratio of 9.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly 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). 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 during the quarter, compared to the consensus estimate of $340.00 million. As a group, equities analysts predict that Fortuna Mining Corp. will post 1.43 EPS 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.