Auxano Advisors LLC Makes New $1.96 Million Investment in Fortuna Mining Corp. $FSM

Auxano Advisors LLC purchased a new position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 4th quarter, HoldingsChannel reports. The firm purchased 200,000 shares of the basic materials company’s stock, valued at approximately $1,962,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in shares of 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 boosted its stake in Fortuna Mining by 80.4% in 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 buying an additional 8,706,611 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fortuna Mining by 1,623.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock valued at $40,844,000 after buying an additional 4,297,370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 buying an additional 3,779,920 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Fortuna Mining by 1,130.8% in the third quarter. Invesco Ltd. now owns 3,118,752 shares of the basic materials company’s stock worth $27,944,000 after purchasing an additional 2,865,367 shares in the last quarter. 33.80% of the stock is owned by institutional investors.

Fortuna Mining Stock Down 0.7%

Shares of Fortuna Mining stock opened at $9.48 on Tuesday. Fortuna Mining Corp. has a 1 year low of $5.36 and a 1 year high of $13.85. The business has a 50-day moving average of $10.18 and a two-hundred day moving average of $10.15. The company has a market capitalization of $2.89 billion, a P/E ratio of 8.94 and a beta of 0.94. 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 (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 the consensus estimate of $0.37 by ($0.02). The business had revenue of $342.47 million during 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, equities analysts predict that Fortuna Mining Corp. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FSM shares. Weiss Ratings raised Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Scotiabank upped their price target 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 raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.