Y Intercept Hong Kong Ltd Decreases Holdings in Fortuna Mining Corp. $FSM

Y Intercept Hong Kong Ltd lessened its holdings in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 49.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 304,533 shares of the basic materials company’s stock after selling 301,885 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fortuna Mining were worth $2,729,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Kiker Wealth Management LLC raised its holdings in shares of Fortuna Mining by 4,200.3% during the second quarter. Kiker Wealth Management LLC now owns 30,102 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 29,402 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Fortuna Mining by 481.2% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 191,330 shares of the basic materials company’s stock worth $1,714,000 after buying an additional 158,412 shares during the last quarter. Sheets Smith Investment Management acquired a new position in shares of Fortuna Mining during the third quarter valued at approximately $1,488,000. Acadian Asset Management LLC lifted its position in shares of Fortuna Mining by 44.8% in the second quarter. Acadian Asset Management LLC now owns 7,021,169 shares of the basic materials company’s stock valued at $45,815,000 after acquiring an additional 2,171,847 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Fortuna Mining by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 6,363,058 shares of the basic materials company’s stock valued at $41,631,000 after purchasing an additional 434,295 shares during the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FSM. Scotiabank lifted their target price on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a report on Monday, December 29th. National Bankshares raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. BMO Capital Markets restated an “outperform” rating on shares of Fortuna Mining in a report on Friday, January 16th. Finally, Wall Street Zen raised Fortuna Mining from a “hold” rating to a “buy” rating in a research report on Tuesday, December 23rd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.00.

Fortuna Mining Stock Up 2.5%

Shares of FSM stock traded up $0.29 on Wednesday, reaching $11.86. 681,841 shares of the stock were exchanged, compared to its average volume of 7,758,825. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 16.47 and a beta of 0.89. The business’s 50 day moving average price is $9.95 and its 200 day moving average price is $8.57. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. Fortuna Mining Corp. has a twelve month low of $4.13 and a twelve month high of $12.54.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%.The company had revenue of $246.75 million for the quarter, compared to analyst estimates of $242.19 million. As a group, sell-side analysts expect that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal 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. The company was formerly known as Fortuna Silver Mines Inc and changed its name to Fortuna Mining Corp.