Russell Investments Group Ltd. Acquires 203,268 Shares of Fortuna Mining Corp. $FSM

Russell Investments Group Ltd. increased its stake in shares of Fortuna Mining Corp. (NYSE:FSM - Free Report) TSE: FVI by 21.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,138,367 shares of the basic materials company's stock after acquiring an additional 203,268 shares during the quarter. Russell Investments Group Ltd. owned about 0.37% of Fortuna Mining worth $7,436,000 at the end of the most recent reporting period.

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Other hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Fortuna Mining during the 1st quarter worth about $17,032,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Fortuna Mining by 123.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,859,600 shares of the basic materials company's stock valued at $29,553,000 after acquiring an additional 2,688,900 shares during the period. Jump Financial LLC acquired a new position in Fortuna Mining in the 1st quarter valued at approximately $14,076,000. Acadian Asset Management LLC raised its holdings in 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 in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Fortuna Mining by 424.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 2,083,146 shares of the basic materials company's stock worth $12,706,000 after acquiring an additional 1,685,634 shares during the period. 33.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FSM shares. Wall Street Zen cut Fortuna Mining from a "buy" rating to a "hold" rating in a research report on Saturday, November 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fortuna Mining in a report on Monday. National Bankshares raised shares of Fortuna Mining from a "sector perform" rating to an "outperform" rating in a research note on Monday, November 24th. Scotiabank upgraded shares of Fortuna Mining from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $10.50 to $11.00 in a research note on Monday, November 24th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Fortuna Mining in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.50.

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Read Our Latest Analysis on Fortuna Mining

Fortuna Mining Price Performance

Shares of Fortuna Mining stock opened at $9.55 on Thursday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 13.27 and a beta of 0.95. The firm's 50-day moving average price is $8.71 and its two-hundred day moving average price is $7.57. The company has a current ratio of 3.30, a quick ratio of 2.73 and a debt-to-equity ratio of 0.11. Fortuna Mining Corp. has a 1-year low of $4.13 and a 1-year high of $10.38.

Fortuna Mining (NYSE:FSM - Get Free Report) TSE: FVI last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08). The business had revenue of $246.75 million during the quarter, compared to analyst estimates of $242.19 million. Fortuna Mining had a return on equity of 12.42% and a net margin of 21.48%. On average, equities analysts predict that Fortuna Mining Corp. will post 0.51 earnings per share for the current fiscal 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.

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