Fortune Minerals (TSE:FT) Shares Pass Above 200-Day Moving Average – Time to Sell?

Fortune Minerals Limited (TSE:FT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.10 and traded as high as C$0.12. Fortune Minerals shares last traded at C$0.12, with a volume of 1,497,112 shares traded.

Fortune Minerals Stock Up 9.5%

The company has a current ratio of 0.20, a quick ratio of 0.04 and a debt-to-equity ratio of -177.44. The stock has a 50 day simple moving average of C$0.12 and a 200 day simple moving average of C$0.10. The firm has a market capitalization of C$67.27 million, a PE ratio of -11.50 and a beta of -1.59.

Fortune Minerals Company Profile

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.