Fortuna Mining Corp. $FSM Shares Newly Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. purchased a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 74,839 shares of the basic materials company’s stock, valued at approximately $824,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Capital Wealth Advisors purchased a new position in shares of Fortuna Mining in the 3rd quarter valued at approximately $114,000. Global Strategic Management Inc. raised its stake in shares of Fortuna Mining by 4.6% during the third quarter. Global Strategic Management Inc. now owns 1,046,319 shares of the basic materials company’s stock worth $11,750,000 after purchasing an additional 45,900 shares during the last quarter. Bullock Wealth Management Group purchased a new stake in shares of Fortuna Mining during the third quarter worth approximately $69,000. Farther Finance Advisors LLC acquired a new stake in shares of Fortuna Mining during the third quarter worth $108,000. Finally, Engineers Gate Manager LP lifted its holdings in shares of Fortuna Mining by 44.2% during the second quarter. Engineers Gate Manager LP now owns 330,415 shares of the basic materials company’s stock worth $2,792,000 after purchasing an additional 101,266 shares during the period. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Price Performance

Fortuna Mining stock opened at $9.51 on Friday. The company has a market cap of $2.81 billion, a P/E ratio of 8.06 and a beta of 1.05. Fortuna Mining Corp. has a one year low of $7.70 and a one year high of $13.85. The business has a fifty day moving average of $11.45 and a two-hundred day moving average of $10.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The company had revenue of $318.41 million for the quarter, compared to analyst estimates of $325.00 million. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. As a group, analysts predict that Fortuna Mining Corp. will post 1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Fortuna Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.00.

Fortuna Mining Company Profile

Fortuna Mining Corp. is a precious metals mining company that explores, develops and operates mines producing gold and silver. The company’s portfolio also includes polymetallic production, including lead and zinc concentrates from its Caylloma operation in Peru. Fortuna sells its metal production to international smelters and refiners.

Fortuna’s operating portfolio includes the Lindero gold mine in Salta, Argentina; the Séguéla gold mine in Côte d’Ivoire; the Yaramoko gold mine in Burkina Faso; and the Caylloma silver-polymetallic mine in Peru.