Allianz Asset Management GmbH Acquires New Shares in Fortuna Mining Corp. $FSM

Allianz Asset Management GmbH bought a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 183,995 shares of the basic materials company’s stock, valued at approximately $1,648,000. Allianz Asset Management GmbH owned about 0.06% of Fortuna Mining as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FSM. Geneos Wealth Management Inc. boosted its stake in shares of Fortuna Mining by 100.0% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,691 shares in the last quarter. Osaic Holdings Inc. lifted 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 valued at $40,000 after purchasing an additional 3,006 shares during the last quarter. Centric Wealth Management bought a new position in Fortuna Mining in the 2nd quarter valued at approximately $66,000. Finally, Marex Group plc acquired a new stake in Fortuna Mining in the second quarter valued at approximately $68,000. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Trading Down 9.1%

NYSE:FSM opened at $10.38 on Friday. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $12.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.73 and a current ratio of 3.30. The firm’s fifty day moving average is $10.28 and its 200-day moving average is $8.88. The firm has a market cap of $3.17 billion, a P/E ratio of 14.41 and a beta of 0.88.

Analyst Ratings Changes

Several brokerages have recently issued reports on FSM. National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a report on Monday, November 24th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. Scotiabank upped their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Finally, Cibc Captl Mkts raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.