Pine Valley Investments Ltd Liability Co Sells 84,607 Shares of Fortuna Mining Corp. $FSM

Pine Valley Investments Ltd Liability Co lowered its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,164 shares of the basic materials company’s stock after selling 84,607 shares during the quarter. Pine Valley Investments Ltd Liability Co owned approximately 0.10% of Fortuna Mining worth $2,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in Fortuna Mining by 3.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 20,216,810 shares of the basic materials company’s stock valued at $198,176,000 after acquiring an additional 686,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Fortuna Mining by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,707,054 shares of the basic materials company’s stock valued at $122,747,000 after purchasing an additional 3,779,920 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fortuna Mining by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,634,157 shares of the basic materials company’s stock valued at $105,576,000 after purchasing an additional 567,558 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Fortuna Mining by 31.4% during the 3rd quarter. Tidal Investments LLC now owns 8,947,480 shares of the basic materials company’s stock valued at $80,169,000 after purchasing an additional 2,138,143 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Fortuna Mining by 19.6% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,272 shares of the basic materials company’s stock valued at $51,046,000 after purchasing an additional 1,368,600 shares in the last quarter. Institutional investors own 33.80% of the company’s stock.

Fortuna Mining Trading Up 2.9%

Shares of FSM stock opened at $8.68 on Tuesday. Fortuna Mining Corp. has a 1 year low of $6.17 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.17 and a quick ratio of 2.74. The stock’s 50 day simple moving average is $8.79 and its two-hundred day simple moving average is $9.97. The company has a market cap of $2.60 billion, a PE ratio of 8.18 and a beta of 0.99.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.35 earnings per share 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 company had revenue of $342.47 million for the quarter, compared to the consensus estimate of $340.00 million. Research analysts predict that Fortuna Mining Corp. will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSM has been the topic of several research reports. Weiss Ratings cut Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, June 18th. Zacks Research raised Fortuna Mining from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Scotiabank restated an “outperform” rating on shares of Fortuna Mining in a report on Thursday. Finally, Wall Street Zen downgraded Fortuna Mining from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Fortuna Mining has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

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.