Public Employees Retirement System of Ohio Invests $7.08 Million in Fortuna Mining Corp. $FSM

Public Employees Retirement System of Ohio bought a new position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the second quarter, Holdings Channel.com reports. The fund bought 837,310 shares of the basic materials company’s stock, valued at approximately $7,076,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Fortuna Mining by 33.1% in the first quarter. Royal Bank of Canada now owns 1,394,600 shares of the basic materials company’s stock worth $13,849,000 after buying an additional 346,716 shares during the last quarter. World Investment Advisors bought a new position in shares of Fortuna Mining in the fourth quarter valued at $1,415,000. Dimensional Fund Advisors LP lifted its position in shares of Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock valued at $105,576,000 after acquiring an additional 567,558 shares during the last quarter. Channing Global Advisors LLC acquired a new stake in shares of Fortuna Mining during the 1st quarter valued at $1,232,000. Finally, Bank of America Corp DE boosted its stake in shares of Fortuna Mining by 9.8% during the 1st quarter. Bank of America Corp DE now owns 2,856,308 shares of the basic materials company’s stock worth $28,363,000 after acquiring an additional 255,336 shares in the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Fortuna Mining Trading Down 3.0%

Fortuna Mining stock opened at $11.72 on Wednesday. Fortuna Mining Corp. has a 52 week low of $7.55 and a 52 week high of $13.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.50 and a current ratio of 3.00. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 9.93 and a beta of 1.08. The company has a 50 day moving average price of $9.60 and a 200 day moving average price of $10.03.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $318.41 million during the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a net margin of 31.99% and a return on equity of 17.48%. Research analysts forecast that Fortuna Mining Corp. will post 1.24 EPS for the current 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.