Groupe la Francaise Buys 328,380 Shares of Fortuna Mining Corp. $FSM

Groupe la Francaise grew its stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 47.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,023,380 shares of the basic materials company’s stock after purchasing an additional 328,380 shares during the period. Groupe la Francaise’s holdings in Fortuna Mining were worth $10,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSM. Arrowstreet Capital Limited Partnership increased its position in shares of Fortuna Mining by 80.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 19,530,048 shares of the basic materials company’s stock valued at $174,866,000 after purchasing an additional 8,706,611 shares during the last quarter. Vanguard Group Inc. lifted its position in Fortuna Mining by 1,623.8% in the third quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock worth $40,844,000 after buying an additional 4,297,370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Fortuna Mining by 38.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock worth $122,747,000 after buying an additional 3,779,920 shares during the period. Invesco Ltd. boosted its stake in Fortuna Mining by 1,130.8% during the third quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company’s stock worth $27,944,000 after buying an additional 2,865,367 shares during the period. Finally, Tidal Investments LLC boosted its stake in Fortuna Mining by 31.4% during the third quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock worth $80,169,000 after buying an additional 2,138,143 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $8.78 on Friday. The stock’s fifty day moving average is $8.82 and its two-hundred day moving average is $10.00. The company has a market capitalization of $2.63 billion, a PE ratio of 8.28 and a beta of 0.99. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10. Fortuna Mining Corp. has a 52 week low of $6.17 and a 52 week high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business 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%. As a group, analysts expect that Fortuna Mining Corp. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSM. Weiss Ratings downgraded shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 18th. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen lowered shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Fortuna Mining in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.