TD Waterhouse Canada Inc. Makes New $2.39 Million Investment in Fortuna Mining Corp. $FSM

TD Waterhouse Canada Inc. bought a new stake in Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) during the second quarter, Holdings Channel.com reports. The firm bought 91,654 shares of the basic materials company’s stock, valued at approximately $2,388,000.

Other large investors have also modified their holdings of the company. Centric Wealth Management grew its holdings in shares of Fortuna Mining by 10.0% during the 4th quarter. Centric Wealth Management now owns 11,000 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 1,000 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Fortuna Mining by 1.0% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 158,579 shares of the basic materials company’s stock worth $1,554,000 after purchasing an additional 1,500 shares during the last quarter. DGS Capital Management LLC raised its holdings in Fortuna Mining by 15.8% in the 1st quarter. DGS Capital Management LLC now owns 12,103 shares of the basic materials company’s stock valued at $120,000 after buying an additional 1,649 shares during the period. Geneos Wealth Management Inc. raised its holdings in Fortuna Mining by 100.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock valued at $26,000 after buying an additional 2,000 shares during the period. Finally, Cetera Investment Advisers lifted its position in Fortuna Mining by 22.2% in the fourth quarter. Cetera Investment Advisers now owns 14,343 shares of the basic materials company’s stock valued at $141,000 after buying an additional 2,605 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Fortuna Mining in a research note on Thursday, July 30th. Zacks Research upgraded shares of Fortuna Mining from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings cut shares of Fortuna Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, June 18th. Finally, Wall Street Zen downgraded shares of Fortuna Mining from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Fortuna Mining currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

Fortuna Mining Stock Performance

Shares of Fortuna Mining stock opened at $12.15 on Wednesday. The business has a 50-day moving average of $10.00 and a 200 day moving average of $10.09. Fortuna Mining Corp. has a 12 month low of $7.63 and a 12 month high of $13.85. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 10.30 and a beta of 1.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.00 and a quick ratio of 2.50.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last issued its quarterly earnings results on Wednesday, August 5th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The business had revenue of $318.41 million for the quarter, compared to analysts’ expectations of $325.00 million. Fortuna Mining had a return on equity of 17.48% and a net margin of 31.99%. As a group, sell-side analysts forecast that Fortuna Mining Corp. will post 1.24 earnings per share for the current year.

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.