Fortune Minerals (TSE:FT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Fortune Minerals Limited (TSE:FT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.14 and traded as high as C$0.14. Fortune Minerals shares last traded at C$0.14, with a volume of 292,160 shares changing hands.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.63 price objective on shares of Fortune Minerals and gave the stock a “buy” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Fortune Minerals presently has an average rating of “Buy” and an average target price of C$0.63.

Fortune Minerals Stock Down 3.4%

The business’s fifty day simple moving average is C$0.14 and its two-hundred day simple moving average is C$0.14. The company has a market cap of C$93.82 million, a PE ratio of -14.00 and a beta of -1.75. The company has a debt-to-equity ratio of -230.60, a current ratio of 0.21 and a quick ratio of 0.04.

Fortune Minerals (TSE:FT) last posted its earnings results on Friday, August 14th. The company reported C($0.01) earnings per share (EPS) for the quarter. Fortune Minerals had a positive return on equity of 80.32% and a negative net margin of 13,690.93%.

About Fortune Minerals

Fortune is a Canadian mining and mineral processing company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO deposit and is a potential future source of incremental feed to extend the life of the NICO concentrator.