Chelsea Counsel Co. Has $57,000 Stock Position in Fortuna Mining Corp. $FSM

Chelsea Counsel Co. cut its stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 54.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,680 shares of the basic materials company’s stock after selling 10,570 shares during the period. Chelsea Counsel Co.’s holdings in Fortuna Mining were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fortuna Mining by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,372,171 shares of the basic materials company’s stock worth $50,899,000 after purchasing an additional 859,398 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock worth $51,046,000 after purchasing an additional 1,368,600 shares during the period. American Century Companies Inc. grew its stake in shares of Fortuna Mining by 17.7% during the first quarter. American Century Companies Inc. now owns 5,928,763 shares of the basic materials company’s stock worth $36,075,000 after purchasing an additional 889,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Fortuna Mining by 123.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company’s stock worth $29,553,000 after purchasing an additional 2,688,900 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Fortuna Mining during the first quarter worth $17,032,000. 33.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FSM shares. Zacks Research cut Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Scotiabank lifted their target price on Fortuna Mining from $7.50 to $8.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 6th. Wall Street Zen lowered Fortuna Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 9th. CIBC lifted their target price on Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a report on Tuesday, July 15th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Fortuna Mining in a report on Tuesday, June 24th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fortuna Mining presently has an average rating of “Hold” and a consensus price target of $8.00.

Fortuna Mining Price Performance

NYSE:FSM opened at $8.96 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $7.51 and its two-hundred day moving average price is $6.68. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.92 and a beta of 0.85. Fortuna Mining Corp. has a 12-month low of $4.13 and a 12-month high of $9.13.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The firm had revenue of $230.42 million during the quarter, compared to analyst estimates of $220.00 million. On average, analysts anticipate 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.