Fortune Minerals (TSE:FT) Shares Down 5.6% – Time to Sell?

Fortune Minerals Limited (TSE:FT) shares were down 5.6% on Wednesday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 6,225 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 223,691 shares. The stock had previously closed at C$0.05.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$0.35 price target on shares of Fortune Minerals and gave the stock a “buy” rating in a research report on Tuesday, February 11th.

Fortune Minerals Price Performance

The stock has a market capitalization of C$24.66 million, a PE ratio of -8.62 and a beta of 0.01. The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61. The stock’s 50 day moving average price is C$0.05 and its 200-day moving average price is C$0.05.

About Fortune Minerals

Fortune Minerals Limited engages in the exploration and development of specialty metals, base metals, and precious metals in Canada. The company explores for gold, cobalt, bismuth, copper, silver, lead, and zinc deposits. Its primary asset is the NICO gold-cobalt-bismuth-copper project covering an area of 5,140 hectares located in the Northwest Territories.