Fortune Minerals (TSE:FT) Shares Climb 13% – Should You Buy?

Fortune Minerals Limited (TSE:FT)’s share price was up 13% during trading on Tuesday. The company traded as high as C$0.14 and last traded at C$0.13. 1,080,407 shares traded hands during trading, an increase of 45% from the average session volume of 744,471 shares. The stock had previously closed at C$0.12.

Fortune Minerals Stock Performance

The company has a market capitalization of C$87.11 million, a P/E ratio of -13.00 and a beta of -0.92. The company has a quick ratio of 0.04, a current ratio of 0.21 and a debt-to-equity ratio of -230.60. The business has a 50 day moving average of C$0.14 and a 200 day moving average of C$0.14.

Fortune Minerals (TSE:FT) last issued its earnings results on Friday, August 14th. The company reported C($0.01) earnings per share for the quarter. Fortune Minerals had a negative net margin of 13,690.93% and a positive return on equity of 80.32%.

Fortune Minerals Company Profile

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.