Quantbot Technologies LP Raises Stock Holdings in Fortuna Mining Corp. $FSM

Quantbot Technologies LP boosted its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 190.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 465,375 shares of the basic materials company’s stock after acquiring an additional 305,115 shares during the quarter. Quantbot Technologies LP’s holdings in Fortuna Mining were worth $4,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. raised its stake 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. EverSource Wealth Advisors LLC increased its holdings in Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares during the period. Osaic Holdings Inc. increased its holdings in Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,006 shares during the period. Farther Finance Advisors LLC raised its position in Fortuna Mining by 32.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock worth $77,000 after buying an additional 2,126 shares during the last quarter. Finally, Centric Wealth Management acquired a new stake in Fortuna Mining during the 2nd quarter valued at approximately $66,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FSM has been the topic of a number of research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research note on Friday, January 16th. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Scotiabank lifted their price objective on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen cut Fortuna Mining from a “buy” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Up 0.5%

FSM opened at $13.69 on Monday. The company has a fifty day moving average of $10.84 and a two-hundred day moving average of $9.33. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.22 and a beta of 0.82. Fortuna Mining Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $13.84. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a return on equity of 14.02% and a net margin of 27.59%.The firm had revenue of $270.20 million for the quarter. On average, research analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share 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.