Fortune Minerals (TSE:FT) Shares Cross Above 200 Day Moving Average – Here’s Why

Fortune Minerals Limited (TSE:FT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.06. Fortune Minerals shares last traded at C$0.06, with a volume of 580,435 shares trading hands.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.42 price target on Fortune Minerals and gave the stock a “buy” rating in a research note on Tuesday.

Fortune Minerals Price Performance

The stock has a market capitalization of C$31.91 million, a PE ratio of -11.16 and a beta of 0.01. The stock’s 50 day moving average price is C$0.05 and its 200-day moving average price is C$0.05. The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61.

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.