Fortuna Mining Corp. $FSM Shares Sold by Versor Investments LP

Versor Investments LP cut its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 70.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the basic materials company’s stock after selling 68,400 shares during the period. Versor Investments LP’s holdings in Fortuna Mining were worth $260,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FSM. Campbell & CO Investment Adviser LLC raised its holdings in shares of Fortuna Mining by 481.2% in the third 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 purchased a new stake in shares of Fortuna Mining during the third quarter valued at $1,488,000. Acadian Asset Management LLC increased its position in shares of Fortuna Mining by 44.8% in the 2nd 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 during the period. 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 worth $41,631,000 after acquiring an additional 434,295 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Fortuna Mining in the 2nd quarter worth $1,721,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Up 6.4%

Shares of FSM stock opened at $11.06 on Friday. Fortuna Mining Corp. has a twelve month low of $4.13 and a twelve month high of $12.54. The stock has a market cap of $3.37 billion, a P/E ratio of 15.35 and a beta of 0.88. The stock has a 50 day moving average of $10.31 and a 200 day moving average of $8.93. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11.

Analysts Set New Price Targets

FSM has been the topic of several research analyst reports. Scotiabank boosted their price target on Fortuna Mining from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Zacks Research upgraded Fortuna Mining from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. National Bank Financial raised shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Fortuna Mining in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $11.00.

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.