TD Asset Management Inc Acquires 231,104 Shares of Fortuna Mining Corp. $FSM

TD Asset Management Inc raised its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 11.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,294,955 shares of the basic materials company’s stock after purchasing an additional 231,104 shares during the quarter. TD Asset Management Inc owned 0.75% of Fortuna Mining worth $14,986,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FSM. Cambridge Investment Research Advisors Inc. raised its position in Fortuna Mining by 16.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 73,951 shares of the basic materials company’s stock valued at $451,000 after purchasing an additional 10,690 shares during the last quarter. U S Global Investors Inc. raised its position in Fortuna Mining by 2.5% in the first quarter. U S Global Investors Inc. now owns 576,714 shares of the basic materials company’s stock valued at $3,518,000 after purchasing an additional 14,313 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in Fortuna Mining in the first quarter valued at about $445,000. Realta Investment Advisors bought a new position in Fortuna Mining in the first quarter valued at about $406,000. Finally, Kingsview Wealth Management LLC bought a new position in Fortuna Mining in the first quarter valued at about $969,000. 33.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. CIBC increased their target price on Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Zacks Research cut Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. BMO Capital Markets reissued an “outperform” rating on shares of Fortuna Mining in a research note on Friday, August 8th. Finally, Scotiabank increased their price target on Fortuna Mining from $8.00 to $8.50 and gave the company a “sector perform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fortuna Mining presently has a consensus rating of “Hold” and a consensus price target of $8.25.

Fortuna Mining Trading Down 8.3%

Shares of FSM stock opened at $8.72 on Friday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 17.44 and a beta of 0.84. The stock has a 50-day moving average of $8.13 and a 200-day moving average of $6.95. The company has a current ratio of 2.71, a quick ratio of 2.15 and a debt-to-equity ratio of 0.13. Fortuna Mining Corp. has a 1-year low of $4.13 and a 1-year high of $9.81.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, August 6th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Fortuna Mining had a return on equity of 12.74% and a net margin of 14.36%.The business had revenue of $230.42 million for the quarter, compared to analyst estimates of $220.00 million. On average, equities research analysts forecast that Fortuna Mining Corp. will post 0.51 earnings per share for the current year.

Fortuna Mining Profile

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.