NewEdge Advisors LLC Lowers Stock Holdings in Fortuna Mining Corp. $FSM

NewEdge Advisors LLC lowered its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 91.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,587 shares of the basic materials company’s stock after selling 193,768 shares during the period. NewEdge Advisors LLC’s holdings in Fortuna Mining were worth $175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FSM. Geneos Wealth Management Inc. boosted its stake in shares of Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 2,000 shares during the period. Advisory Services Network LLC purchased a new position in Fortuna Mining in the 3rd quarter worth approximately $27,000. IFP Advisors Inc purchased a new position in Fortuna Mining in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in Fortuna Mining by 126.8% in 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 during the period. Finally, Osaic Holdings Inc. boosted 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 worth $40,000 after purchasing an additional 3,006 shares during the period. 33.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FSM shares. Scotiabank reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Zacks Research raised shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Fortuna Mining Stock Performance

NYSE:FSM opened at $12.46 on Wednesday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 10.56 and a beta of 1.01. Fortuna Mining Corp. has a 1 year low of $7.32 and a 1 year high of $13.85. The stock’s 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $9.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. The firm had revenue of $318.41 million for the quarter, compared to the consensus estimate of $325.00 million. As a group, equities analysts anticipate that Fortuna Mining Corp. will post 1.24 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.