Fortune Minerals (TSE:FT) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Fortune Minerals Limited (TSE:FT) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$0.09 and traded as high as C$0.12. Fortune Minerals shares last traded at C$0.12, with a volume of 442,638 shares.

Fortune Minerals Stock Up 4.5%

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 company has a 50-day simple moving average of C$0.10 and a 200 day simple moving average of C$0.09. The company has a market cap of C$67.27 million, a P/E ratio of -5.75 and a beta of -1.84.

Fortune Minerals (TSE:FT) last issued its earnings results on Friday, November 14th. The company reported C$0.00 earnings per share (EPS) for the quarter. Fortune Minerals had a negative net margin of 13,690.93% and a positive return on equity of 30.09%.

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.