Versor Investments LP Purchases New Holdings in Fortuna Mining Corp. $FSM

Versor Investments LP acquired a new stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 97,400 shares of the basic materials company’s stock, valued at approximately $638,000.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in Fortuna Mining in the second quarter worth about $42,000. Virtus Advisers LLC purchased a new position in Fortuna Mining in the first quarter worth about $58,000. PCG Wealth Advisors LLC purchased a new position in Fortuna Mining in the first quarter worth about $61,000. Quarry LP purchased a new position in Fortuna Mining in the first quarter worth about $82,000. Finally, FORA Capital LLC purchased a new position in Fortuna Mining in the first quarter worth about $85,000. 33.80% of the stock is owned by hedge funds and other institutional investors.

Fortuna Mining Stock Performance

Shares of FSM stock opened at $8.21 on Tuesday. The company has a 50 day moving average price of $8.35 and a 200-day moving average price of $7.14. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.52 billion, a PE ratio of 16.41 and a beta of 0.84. Fortuna Mining Corp. has a 52 week low of $4.13 and a 52 week high of $9.81.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Fortuna Mining from $8.50 to $10.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. CIBC lifted their price target on shares of Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a research note on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Fortuna Mining in a research note on Tuesday, October 14th. Zacks Research lowered shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.