Y Intercept Hong Kong Ltd Sells 301,885 Shares of Fortuna Mining Corp. $FSM

Y Intercept Hong Kong Ltd decreased its stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 49.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,533 shares of the basic materials company’s stock after selling 301,885 shares during the period. Y Intercept Hong Kong Ltd owned about 0.10% of Fortuna Mining worth $2,729,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in Fortuna Mining by 155.2% in the third quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 127,600 shares of the basic materials company’s stock worth $1,143,000 after acquiring an additional 77,600 shares in the last quarter. Olympiad Research LP bought a new position in shares of Fortuna Mining during the 3rd quarter valued at about $410,000. Klein Pavlis & Peasley Financial Inc. raised its holdings in shares of Fortuna Mining by 4.1% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 127,937 shares of the basic materials company’s stock valued at $1,146,000 after buying an additional 5,060 shares in the last quarter. Ritholtz Wealth Management lifted its position in Fortuna Mining by 417.4% in the 3rd quarter. Ritholtz Wealth Management now owns 85,901 shares of the basic materials company’s stock worth $770,000 after buying an additional 69,300 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in Fortuna Mining by 481.2% in the third quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after buying an additional 158,412 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Stock Performance

NYSE FSM traded up $0.29 during trading hours on Wednesday, hitting $11.86. 681,841 shares of the company’s stock traded hands, compared to its average volume of 7,758,825. The business’s fifty day moving average price is $9.95 and its two-hundred day moving average price is $8.57. The firm has a market capitalization of $3.63 billion, a P/E ratio of 16.47 and a beta of 0.89. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $12.54. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). The firm had revenue of $246.75 million for the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. Equities research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Fortuna Mining from a “hold” rating to a “buy” rating in a research note on Tuesday, December 23rd. Scotiabank upped their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fortuna Mining currently has a consensus rating of “Hold” and an average price target of $11.00.

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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.