Legal & General Group Plc Purchases 169,344 Shares of Fortuna Mining Corp. $FSM

Legal & General Group Plc lifted its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 13.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,458,914 shares of the basic materials company’s stock after buying an additional 169,344 shares during the quarter. Legal & General Group Plc’s holdings in Fortuna Mining were worth $14,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FSM. Royal Bank of Canada boosted its position in Fortuna Mining by 98.8% during the 1st quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after buying an additional 576,264 shares during the period. Goldman Sachs Group Inc. increased its position in Fortuna Mining by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after acquiring an additional 1,368,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Fortuna Mining by 189.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock valued at $5,127,000 after acquiring an additional 549,665 shares during the period. Geode Capital Management LLC raised its stake in shares of Fortuna Mining by 3.9% during the second quarter. Geode Capital Management LLC now owns 170,952 shares of the basic materials company’s stock valued at $1,123,000 after acquiring an additional 6,405 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Fortuna Mining during the second quarter valued at $122,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Performance

NYSE:FSM opened at $9.82 on Wednesday. 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 twelve month low of $6.17 and a twelve month high of $13.85. The company has a fifty day moving average of $9.96 and a 200-day moving average of $10.25. The firm has a market capitalization of $2.99 billion, a P/E ratio of 9.27 and a beta of 0.94.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Fortuna Mining had a return on equity of 16.26% and a net margin of 31.07%.The company had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. As a group, sell-side analysts anticipate that Fortuna Mining Corp. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Fortuna Mining from a “hold” rating to a “strong sell” rating in a report on Monday, May 25th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fortuna Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

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.