TD Asset Management Inc Acquires 1,195,890 Shares of Fortuna Mining Corp. (NYSE:FSM)

TD Asset Management Inc raised its holdings in shares of Fortuna Mining Corp. (NYSE:FSM) (TSE:FVI) by 137.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,063,851 shares of the basic materials company’s stock after acquiring an additional 1,195,890 shares during the period. TD Asset Management Inc’s holdings in Fortuna Mining were worth $12,547,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allianz Asset Management GmbH bought a new stake in Fortuna Mining in the first quarter valued at about $588,000. PCG Wealth Advisors LLC acquired a new position in shares of Fortuna Mining during the 1st quarter worth about $61,000. Kingsview Wealth Management LLC bought a new stake in shares of Fortuna Mining in the 1st quarter valued at about $969,000. Realta Investment Advisors acquired a new stake in shares of Fortuna Mining in the 1st quarter valued at approximately $406,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Fortuna Mining during the 1st quarter worth approximately $445,000. Institutional investors and hedge funds own 33.80% of the company’s stock.

Fortuna Mining Stock Down 3.5%

FSM stock opened at $6.53 on Thursday. The business has a 50-day moving average of $6.59 and a 200-day moving average of $5.80. Fortuna Mining Corp. has a fifty-two week low of $3.86 and a fifty-two week high of $7.55. The stock has a market capitalization of $2.00 billion, a P/E ratio of 12.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.04 and a quick ratio of 1.56.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last posted its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Fortuna Mining had a return on equity of 12.94% and a net margin of 14.28%. The business had revenue of $290.15 million for the quarter, compared to analyst estimates of $291.00 million. On average, sell-side analysts anticipate that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

FSM has been the subject of several recent analyst reports. Scotiabank upped their target price on shares of Fortuna Mining from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. National Bankshares reiterated a “sector perform” rating on shares of Fortuna Mining in a report on Tuesday, June 24th. CIBC increased their price target on Fortuna Mining from $7.00 to $8.00 and gave the stock an “underperformer” rating in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded Fortuna Mining from a “buy” rating to a “strong-buy” rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.50.

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.