Savant Capital LLC Acquires Shares of 45,542 Fortuna Mining Corp. $FSM

Savant Capital LLC bought a new position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 45,542 shares of the basic materials company’s stock, valued at approximately $298,000.

Several other hedge funds have also recently made changes to their positions in FSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Fortuna Mining by 11.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,372,171 shares of the basic materials company’s stock worth $50,899,000 after acquiring an additional 859,398 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Fortuna Mining by 19.6% in the 1st 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 during the last quarter. American Century Companies Inc. boosted its holdings in shares of Fortuna Mining by 17.7% in the 1st quarter. American Century Companies Inc. now owns 5,928,763 shares of the basic materials company’s stock worth $36,075,000 after purchasing an additional 889,933 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Fortuna Mining by 123.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company’s stock valued at $29,553,000 after purchasing an additional 2,688,900 shares during the last quarter. Finally, Euro Pacific Asset Management LLC increased its position in shares of Fortuna Mining by 1.5% during the 2nd quarter. Euro Pacific Asset Management LLC now owns 4,417,962 shares of the basic materials company’s stock valued at $28,883,000 after purchasing an additional 63,508 shares during the last quarter. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Price Performance

Shares of FSM stock opened at $8.31 on Wednesday. The company has a market capitalization of $2.55 billion, a P/E ratio of 16.61 and a beta of 0.85. The company’s 50-day simple moving average is $8.47 and its two-hundred day simple moving average is $7.30. Fortuna Mining Corp. has a one year low of $4.13 and a one year high of $9.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 2.15.

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

Wall Street Analysts Forecast Growth

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