Fortune Minerals (TSE:FT) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Fortune Minerals Limited (TSE:FT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.09. Fortune Minerals shares last traded at C$0.08, with a volume of 673,653 shares trading hands.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.42 price target on shares of Fortune Minerals and gave the company a “buy” rating in a research note on Tuesday, April 22nd.

Fortune Minerals Price Performance

The company has a current ratio of 0.39, a quick ratio of 0.04 and a debt-to-equity ratio of -111.61. The stock has a market cap of C$46.42 million, a P/E ratio of -16.23 and a beta of 0.01. The business has a 50-day simple moving average of C$0.06 and a 200 day simple moving average of C$0.05.

About Fortune Minerals

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.