TIAA Trust National Association Takes Position in Fortuna Mining Corp. $FSM

TIAA Trust National Association acquired a new stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 436,540 shares of the basic materials company’s stock, valued at approximately $2,855,000. TIAA Trust National Association owned 0.14% of Fortuna Mining as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FSM. Nuveen LLC purchased a new stake in shares of Fortuna Mining during the 1st quarter valued at $17,032,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Fortuna Mining by 123.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company’s stock valued at $29,553,000 after buying an additional 2,688,900 shares during the period. Jump Financial LLC purchased a new stake in shares of Fortuna Mining during the 1st quarter valued at $14,076,000. Cubist Systematic Strategies LLC grew its stake in shares of Fortuna Mining by 424.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,083,146 shares of the basic materials company’s stock valued at $12,706,000 after buying an additional 1,685,634 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Fortuna Mining by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after buying an additional 1,368,600 shares during the period. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSM. Zacks Research cut shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Scotiabank upped their price target on shares of Fortuna Mining from $8.50 to $10.50 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, August 8th. Wall Street Zen cut shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, CIBC upped their price target on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.25.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $8.21 on Tuesday. Fortuna Mining Corp. has a 12 month low of $4.13 and a 12 month high of $9.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15. The firm has a market capitalization of $2.52 billion, a P/E ratio of 16.41 and a beta of 0.84. The company’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $7.14.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The firm had revenue of $230.42 million during the quarter, compared to analyst estimates of $220.00 million. On average, research analysts anticipate that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Fortuna Mining 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.