American Century Companies Inc. Acquires 1,669,226 Shares of Fortuna Mining Corp. $FSM

American Century Companies Inc. increased its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 26.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,032,284 shares of the basic materials company’s stock after buying an additional 1,669,226 shares during the period. American Century Companies Inc. owned 2.62% of Fortuna Mining worth $71,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Fortuna Mining by 98.8% during the 1st quarter. Royal Bank of Canada now owns 1,159,522 shares of the basic materials company’s stock worth $7,074,000 after acquiring an additional 576,264 shares during the period. Goldman Sachs Group Inc. raised its position in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Fortuna Mining by 189.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 840,496 shares of the basic materials company’s stock worth $5,127,000 after purchasing an additional 549,665 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of Fortuna Mining in the 2nd quarter valued at $298,000. Finally, Rathbones Group PLC acquired a new stake in shares of Fortuna Mining in the 2nd quarter valued at $115,000. 33.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FSM. Zacks Research raised shares of Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Scotiabank raised their target price on Fortuna Mining from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Wall Street Zen cut Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $11.00.

Fortuna Mining Stock Up 0.9%

Shares of NYSE FSM opened at $12.37 on Thursday. 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 company has a market cap of $3.78 billion, a P/E ratio of 13.74 and a beta of 0.82. Fortuna Mining Corp. has a 52 week low of $4.28 and a 52 week high of $13.85. The business has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $9.43.

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