Fortune Minerals (TSE:FT) Stock Price Down 5.6% – Here’s What Happened

Fortune Minerals Limited (TSE:FT)’s share price was down 5.6% during mid-day trading on Thursday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 52,500 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 237,317 shares. The stock had previously closed at C$0.05.

Analysts Set New Price Targets

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 note on Tuesday.

Fortune Minerals Stock Performance

The company has a debt-to-equity ratio of -111.61, a quick ratio of 0.04 and a current ratio of 0.39. The business’s fifty day simple moving average is C$0.05 and its 200-day simple moving average is C$0.05. The firm has a market capitalization of C$26.11 million, a PE ratio of -9.13 and a beta of 0.01.

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.