Fortuna Mining Corp. $FSM Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 23.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,765,425 shares of the basic materials company’s stock after selling 529,530 shares during the quarter. TD Asset Management Inc owned about 0.58% of Fortuna Mining worth $15,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSM. Geneos Wealth Management Inc. boosted its position in shares of Fortuna Mining by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after buying an additional 2,000 shares during the period. Farther Finance Advisors LLC increased its position in shares of Fortuna Mining by 32.9% during the third quarter. Farther Finance Advisors LLC now owns 8,589 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 2,126 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Fortuna Mining by 126.8% in the second 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 period. Osaic Holdings Inc. boosted its holdings in Fortuna Mining by 96.7% in the second quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 3,006 shares during the period. Finally, Independent Advisor Alliance grew its stake in Fortuna Mining by 27.9% during the 3rd quarter. Independent Advisor Alliance now owns 15,245 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 3,330 shares in the last quarter. Hedge funds and other institutional investors own 33.80% of the company’s stock.

Fortuna Mining Stock Up 0.5%

Shares of NYSE FSM opened at $13.69 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.98 and a quick ratio of 2.50. The firm’s 50-day moving average is $10.84 and its two-hundred day moving average is $9.33. The company has a market capitalization of $4.18 billion, a PE ratio of 15.22 and a beta of 0.82. Fortuna Mining Corp. has a 12-month low of $4.13 and a 12-month high of $13.84.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Fortuna Mining had a net margin of 27.59% and a return on equity of 14.02%. The firm had revenue of $270.20 million for the quarter. Equities analysts anticipate that Fortuna Mining Corp. will post 0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FSM. Wall Street Zen downgraded shares of Fortuna Mining from a “buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fortuna Mining in a research report on Monday, December 29th. Scotiabank raised 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of Fortuna Mining in a research report on Friday, January 16th. Finally, National Bank Financial upgraded shares of Fortuna Mining from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $11.00.

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.