Groupe la Francaise Purchases 328,380 Shares of Fortuna Mining Corp. $FSM

Groupe la Francaise raised its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 47.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,023,380 shares of the basic materials company’s stock after buying an additional 328,380 shares during the period. Groupe la Francaise owned about 0.34% of Fortuna Mining worth $10,141,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in shares of Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. Advisory Services Network LLC bought a new position in Fortuna Mining in the 3rd quarter worth $27,000. IFP Advisors Inc bought a new position in Fortuna Mining in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC increased its stake in Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after buying an additional 2,691 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in Fortuna Mining by 96.7% in the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,006 shares in the last quarter. 33.80% of the stock is currently owned by institutional investors.

Fortuna Mining Stock Up 4.9%

Shares of FSM opened at $8.78 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 8.28 and a beta of 0.99. Fortuna Mining Corp. has a 1 year low of $6.17 and a 1 year high of $13.85. The business’s 50 day simple moving average is $8.82 and its 200-day simple moving average is $10.00.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $342.47 million during the quarter, compared to analysts’ expectations of $340.00 million. Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. As a group, equities analysts expect that Fortuna Mining Corp. will post 1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research upgraded Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a report on Thursday. Finally, Weiss Ratings cut shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.00.

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.