Fortune Minerals (TSE:FT) Stock Price Down 6.7% – Here’s What Happened

Fortune Minerals Limited (TSE:FT) was down 6.7% on Monday . The stock traded as low as C$0.07 and last traded at C$0.07. Approximately 538,923 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 292,347 shares. The stock had previously closed at C$0.08.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a C$0.35 target price on shares of Fortune Minerals and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Fortune Minerals Stock Up 18.2 %

The firm has a 50 day simple moving average of C$0.05 and a two-hundred day simple moving average of C$0.05. The company has a debt-to-equity ratio of -111.61, a current ratio of 0.39 and a quick ratio of 0.04. The stock has a market cap of C$37.72 million, a price-to-earnings ratio of -13.19 and a beta of 0.01.

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.