Fortune Minerals (TSE:FT) Stock Price Down 9.1% – Time to Sell?

Fortune Minerals Limited (TSE:FT) was down 9.1% during trading on Tuesday . The stock traded as low as C$0.10 and last traded at C$0.10. Approximately 100,123 shares traded hands during trading, a decline of 87% from the average daily volume of 794,591 shares. The stock had previously closed at C$0.11.

Fortune Minerals Price Performance

The company has a market capitalization of C$61.42 million, a P/E ratio of -5.25 and a beta of -2.12. The firm’s fifty day moving average is C$0.12 and its 200 day moving average is C$0.10. The company has a debt-to-equity ratio of -140.09, a quick ratio of 0.04 and a current ratio of 0.22.

About Fortune Minerals

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.