Sheets Smith Wealth Management Acquires New Shares in Fortuna Mining Corp. $FSM

Sheets Smith Wealth Management bought a new position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 69,014 shares of the basic materials company’s stock, valued at approximately $618,000.

Several other institutional investors have also made changes to their positions in FSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fortuna Mining by 18.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,927,134 shares of the basic materials company’s stock valued at $64,823,000 after buying an additional 1,554,963 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Fortuna Mining by 19.6% in 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 acquiring an additional 1,368,600 shares in the last quarter. Acadian Asset Management LLC grew its position in Fortuna Mining by 44.8% in the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after acquiring an additional 2,171,847 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Fortuna Mining by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock worth $41,631,000 after purchasing an additional 434,295 shares during the last quarter. Finally, Euro Pacific Asset Management LLC raised its holdings in shares of Fortuna Mining by 1.5% during the 2nd quarter. Euro Pacific Asset Management LLC now owns 4,417,962 shares of the basic materials company’s stock valued at $28,883,000 after purchasing an additional 63,508 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FSM. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research note on Tuesday. National Bankshares raised Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. Finally, Scotiabank raised Fortuna Mining from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $10.50 to $11.00 in a research report on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fortuna Mining currently has an average rating of “Hold” and an average target price of $9.50.

Fortuna Mining Trading Up 2.1%

Fortuna Mining stock opened at $10.33 on Friday. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $10.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The firm has a market capitalization of $3.17 billion, a PE ratio of 14.35 and a beta of 0.95. The business’s 50-day simple moving average is $8.97 and its 200-day simple moving average is $7.97.

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

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.