Vise Technologies Inc. Acquires New Stake in Fortuna Mining Corp. $FSM

Vise Technologies Inc. acquired a new position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,935 shares of the basic materials company’s stock, valued at approximately $78,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in shares of Fortuna Mining during the first quarter worth about $588,000. TD Asset Management Inc lifted its stake in shares of Fortuna Mining by 137.8% during the first quarter. TD Asset Management Inc now owns 2,063,851 shares of the basic materials company’s stock valued at $12,547,000 after buying an additional 1,195,890 shares during the period. National Bank of Canada FI boosted its position in Fortuna Mining by 41.1% during the first quarter. National Bank of Canada FI now owns 1,238,507 shares of the basic materials company’s stock worth $7,512,000 after acquiring an additional 360,488 shares during the last quarter. PCJ Investment Counsel Ltd. grew its stake in Fortuna Mining by 3.4% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 430,700 shares of the basic materials company’s stock worth $2,619,000 after acquiring an additional 14,240 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Fortuna Mining by 123.9% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company’s stock worth $29,553,000 after acquiring an additional 2,688,900 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Price Performance

FSM stock opened at $8.31 on Wednesday. The stock has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $7.30. Fortuna Mining Corp. has a 12-month low of $4.13 and a 12-month high of $9.81. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.55 billion, a PE ratio of 16.61 and a beta of 0.85.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The firm had revenue of $246.75 million during the quarter, compared to analysts’ expectations of $242.19 million. Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%. As a group, research analysts predict that Fortuna Mining Corp. will post 0.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FSM shares. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday. Zacks Research downgraded Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. Scotiabank upped their price objective on shares of Fortuna Mining from $8.50 to $10.50 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen upgraded shares of Fortuna Mining from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortuna Mining currently has a consensus rating of “Hold” and an average target price of $9.25.

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.