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

Fortune Minerals Limited (TSE:FT)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.14 and traded as high as C$0.15. Fortune Minerals shares last traded at C$0.14, with a volume of 299,052 shares trading hands.

Analysts Set New Price Targets

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 report on Friday, May 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Fortune Minerals presently has an average rating of “Buy” and an average price target of C$0.63.

Fortune Minerals Trading Down 1.8%

The firm has a market cap of C$93.82 million, a P/E ratio of -14.00 and a beta of -1.54. The firm has a fifty day simple moving average of C$0.14 and a 200-day simple moving average of C$0.14. 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 released its quarterly earnings data on Friday, August 14th. The company reported C($0.01) earnings per share 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.