Pine Valley Investments Ltd Liability Co Trims Stock Holdings in Fortuna Mining Corp. $FSM

Pine Valley Investments Ltd Liability Co trimmed its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 22.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 299,164 shares of the basic materials company’s stock after selling 84,607 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Fortuna Mining were worth $2,971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSM. Centric Wealth Management grew its position in Fortuna Mining by 10.0% in the 4th quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 1,000 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Fortuna Mining by 1.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock valued at $1,554,000 after purchasing an additional 1,500 shares during the period. DGS Capital Management LLC grew its holdings in shares of Fortuna Mining by 15.8% in the first quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 1,649 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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 during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Fortuna Mining by 22.2% in the fourth quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 2,605 shares during the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Price Performance

Shares of FSM stock opened at $8.68 on Tuesday. Fortuna Mining Corp. has a twelve month low of $6.17 and a twelve month high of $13.85. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 8.18 and a beta of 0.99. The stock has a fifty day simple moving average of $8.79 and a two-hundred day simple moving average of $9.97. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. On average, analysts predict that Fortuna Mining Corp. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSM has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Thursday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.00.

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.