Jupiter Asset Management Ltd. Buys Shares of 61,432 Fortuna Mining Corp. $FSM

Jupiter Asset Management Ltd. bought a new stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,432 shares of the basic materials company’s stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Fortuna Mining by 1,623.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,562,023 shares of the basic materials company’s stock valued at $40,844,000 after acquiring an additional 4,297,370 shares during the period. Acadian Asset Management LLC lifted its position in shares of Fortuna Mining by 44.8% during the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock worth $45,815,000 after purchasing an additional 2,171,847 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Fortuna Mining by 18.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,927,134 shares of the basic materials company’s stock worth $64,823,000 after purchasing an additional 1,554,963 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after purchasing an additional 1,368,600 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Fortuna Mining by 515.0% in the second quarter. Qube Research & Technologies Ltd now owns 1,616,445 shares of the basic materials company’s stock worth $10,572,000 after purchasing an additional 1,353,605 shares during the last quarter. 33.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Fortuna Mining Stock Performance

Shares of NYSE:FSM opened at $12.25 on Monday. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 13.61 and a beta of 0.88. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $12.54. The company has a quick ratio of 2.50, a current ratio of 2.98 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $10.46 and a 200 day moving average of $9.09.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The company had revenue of $270.20 million for the quarter. On average, sell-side analysts predict 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.