Fortune Minerals (TSE:FT) Stock Crosses Above 200-Day Moving Average of $0.06

Fortune Minerals Limited (TSE:FT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.06 and traded as high as C$0.07. Fortune Minerals shares last traded at C$0.07, with a volume of 143,550 shares trading hands.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.35 target price on shares of Fortune Minerals and gave the stock a “buy” rating in a research note on Friday, June 28th.

Fortune Minerals Price Performance

The firm has a 50 day moving average price of C$0.06 and a 200-day moving average price of C$0.06. The company has a current ratio of 0.05, a quick ratio of 0.04 and a debt-to-equity ratio of 24.90. The firm has a market cap of C$30.41 million, a PE ratio of -6.00 and a beta of 0.02.

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.