Fortune Minerals (TSE:FT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Fortune Minerals Limited (TSE:FT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.05. Fortune Minerals shares last traded at C$0.05, with a volume of 104,979 shares traded.

Wall Street Analyst Weigh In

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

Fortune Minerals Trading Down 10.0 %

The company has a fifty day moving average price of C$0.05 and a 200-day moving average price of C$0.05. The firm has a market capitalization of C$26.11 million, a price-to-earnings ratio of -9.13 and a beta of 0.01. The company has a current ratio of 0.39, a quick ratio of 0.04 and a debt-to-equity ratio of -111.61.

Fortune Minerals Company Profile

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.