World Investment Advisors Invests $1.42 Million in Fortuna Mining Corp. $FSM

World Investment Advisors acquired a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 144,276 shares of the basic materials company’s stock, valued at approximately $1,415,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSM. Van ECK Associates Corp grew its stake in Fortuna Mining by 43.5% during the 3rd quarter. Van ECK Associates Corp now owns 29,280,727 shares of the basic materials company’s stock worth $262,354,000 after purchasing an additional 8,878,857 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Fortuna Mining by 3.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock worth $198,176,000 after purchasing an additional 686,762 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Fortuna Mining by 38.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after purchasing an additional 3,779,920 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Fortuna Mining by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,066,599 shares of the basic materials company’s stock valued at $98,758,000 after purchasing an additional 758,657 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Fortuna Mining by 31.4% in the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock valued at $80,169,000 after buying an additional 2,138,143 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Zacks Research downgraded shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fortuna Mining presently has an average rating of “Hold” and an average price target of $11.00.

Fortuna Mining Stock Performance

NYSE:FSM opened at $9.26 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of 8.73 and a beta of 0.94. The business’s fifty day moving average price is $9.78 and its 200 day moving average price is $10.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. Fortuna Mining Corp. has a 12 month low of $6.17 and a 12 month high of $13.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced 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 business had revenue of $342.47 million for the quarter, compared to analysts’ expectations of $340.00 million. Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%. On average, sell-side analysts anticipate that Fortuna Mining Corp. will post 1.43 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.