Allianz Asset Management GmbH Acquires Shares of 96,708 Fortuna Mining Corp. (NYSE:FSM)

Allianz Asset Management GmbH purchased a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 96,708 shares of the basic materials company’s stock, valued at approximately $588,000.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Fortuna Mining in the 4th quarter valued at approximately $523,000. Commonwealth Equity Services LLC increased its stake in Fortuna Mining by 10.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,456 shares of the basic materials company’s stock valued at $88,000 after buying an additional 2,000 shares during the last quarter. LPL Financial LLC raised its holdings in Fortuna Mining by 65.4% during the fourth quarter. LPL Financial LLC now owns 93,505 shares of the basic materials company’s stock worth $401,000 after acquiring an additional 36,963 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Fortuna Mining in the 4th quarter valued at approximately $320,000. Finally, Franklin Resources Inc. lifted its stake in Fortuna Mining by 15.5% in the fourth quarter. Franklin Resources Inc. now owns 292,798 shares of the basic materials company’s stock valued at $1,255,000 after acquiring an additional 39,298 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Fortuna Mining Price Performance

Shares of NYSE FSM opened at $6.40 on Friday. The stock has a market capitalization of $1.96 billion, a PE ratio of 12.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56. The business has a fifty day moving average price of $6.61 and a two-hundred day moving average price of $5.83. Fortuna Mining Corp. has a fifty-two week low of $3.86 and a fifty-two week high of $7.55.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. CIBC upped their price objective on Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research note on Tuesday, July 15th. Scotiabank upped their price target on shares of Fortuna Mining from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. National Bankshares reissued a “sector perform” rating on shares of Fortuna Mining in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Fortuna Mining from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.50.

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.