Y Intercept Hong Kong Ltd Purchases 147,029 Shares of Fortuna Mining Corp. $FSM

Y Intercept Hong Kong Ltd raised its position in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 71.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,533 shares of the basic materials company’s stock after purchasing an additional 147,029 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.12% of Fortuna Mining worth $3,511,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of Fortuna Mining by 100.0% in the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 2,000 shares in the last quarter. Advisory Services Network LLC bought a new stake in Fortuna Mining during the third quarter worth approximately $27,000. IFP Advisors Inc purchased a new stake in Fortuna Mining during the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Fortuna Mining by 126.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 2,691 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,006 shares during the period. 33.80% of the stock is currently owned by hedge funds and other institutional investors.

Fortuna Mining Price Performance

Shares of Fortuna Mining stock traded down $0.28 during trading hours on Tuesday, reaching $8.39. The stock had a trading volume of 1,743,717 shares, compared to its average volume of 6,790,894. The stock’s 50 day moving average is $9.37 and its 200 day moving average is $10.19. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.10. Fortuna Mining Corp. has a twelve month low of $6.17 and a twelve month high of $13.85. The firm has a market capitalization of $2.51 billion, a PE ratio of 7.91 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $340.00 million. Equities analysts expect that Fortuna Mining Corp. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FSM. Wall Street Zen raised Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Finally, Zacks Research lowered Fortuna Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 25th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

Fortuna Mining Company 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.