Fortuna Mining Corp. $FSM Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 17.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,185,050 shares of the basic materials company’s stock after selling 5,095,677 shares during the period. Van ECK Associates Corp owned 0.08% of Fortuna Mining worth $237,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Fortuna Mining by 26.2% during the third quarter. American Century Companies Inc. now owns 8,032,284 shares of the basic materials company’s stock worth $71,924,000 after buying an additional 1,669,226 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Fortuna Mining during the third quarter worth $550,000. Quantbot Technologies LP boosted its stake in Fortuna Mining by 190.4% during the third quarter. Quantbot Technologies LP now owns 465,375 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 305,115 shares during the last quarter. Causeway Capital Management LLC acquired a new position in Fortuna Mining during the third quarter worth $1,038,000. Finally, Allianz Asset Management GmbH acquired a new position in Fortuna Mining during the third quarter worth $1,648,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FSM shares. Weiss Ratings lowered Fortuna Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Finally, Wall Street Zen raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $8.93 on Friday. Fortuna Mining Corp. has a 52 week low of $6.17 and a 52 week high of $13.85. The business’s fifty day simple moving average is $9.88 and its 200-day simple moving average is $10.27. The firm has a market cap of $2.71 billion, a PE ratio of 8.43 and a beta of 0.94. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.10.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Fortuna Mining had a net margin of 31.07% and a return on equity of 16.26%. The business had revenue of $342.47 million during the quarter, compared to analyst estimates of $340.00 million. Equities analysts forecast that Fortuna Mining Corp. will post 1.43 earnings per share 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.