73,000 Shares in Fortuna Mining Corp. (NYSE:FSM) Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 73,000 shares of the basic materials company’s stock, valued at approximately $445,000.

Several other large investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Fortuna Mining during the fourth quarter valued at $523,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in Fortuna Mining during the 4th quarter valued at about $34,000. PCJ Investment Counsel Ltd. boosted its holdings in shares of Fortuna Mining by 74.1% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 416,460 shares of the basic materials company’s stock valued at $1,785,000 after acquiring an additional 177,220 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Fortuna Mining by 63.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,170,700 shares of the basic materials company’s stock worth $9,305,000 after acquiring an additional 845,900 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Fortuna Mining by 2.8% during the fourth quarter. Swiss National Bank now owns 618,830 shares of the basic materials company’s stock valued at $2,655,000 after purchasing an additional 16,800 shares during the last quarter. 33.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. National Bankshares restated a “sector perform” rating on shares of Fortuna Mining in a research report on Tuesday, June 24th. Scotiabank increased their price target on Fortuna Mining from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Finally, National Bank Financial raised Fortuna Mining to a “hold” rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Fortuna Mining currently has an average rating of “Hold” and an average price target of $7.00.

Fortuna Mining Stock Performance

FSM opened at $6.63 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.56 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 13.00 and a beta of 0.94. The company’s 50 day moving average is $6.27 and its 200 day moving average is $5.53. Fortuna Mining Corp. has a 12-month low of $3.86 and a 12-month high of $7.55.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Fortuna Mining had a return on equity of 12.94% and a net margin of 14.28%. The business had revenue of $290.15 million during the quarter, compared to the consensus estimate of $291.00 million. On average, equities research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current year.

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.