Quantbot Technologies LP Acquires 305,115 Shares of Fortuna Mining Corp. $FSM

Quantbot Technologies LP lifted its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 190.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 465,375 shares of the basic materials company’s stock after purchasing an additional 305,115 shares during the period. Quantbot Technologies LP owned about 0.15% of Fortuna Mining worth $4,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSM. R Squared Ltd bought a new position in Fortuna Mining in the third quarter worth approximately $113,000. Hohimer Wealth Management LLC purchased a new position in shares of Fortuna Mining in the 3rd quarter valued at $94,000. Jupiter Asset Management Ltd. purchased a new position in shares of Fortuna Mining in the 3rd quarter valued at $550,000. Vanguard Group Inc. raised its position in shares of 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 worth $40,844,000 after acquiring an additional 4,297,370 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Fortuna Mining during the 3rd quarter worth $205,000. 33.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FSM shares. National Bank Financial upgraded Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Scotiabank lifted their price objective on shares of Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.00.

Fortuna Mining Price Performance

Shares of FSM stock opened at $13.69 on Monday. Fortuna Mining Corp. has a fifty-two week low of $4.13 and a fifty-two week high of $13.84. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 15.22 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 2.98. The stock’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $9.33.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $270.20 million during the quarter. Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. As a group, equities analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.