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

Fortune Minerals Limited (TSE:FT)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.09 and traded as high as C$0.13. Fortune Minerals shares last traded at C$0.12, with a volume of 693,467 shares.

Fortune Minerals Price Performance

The company has a market cap of C$70.19 million, a P/E ratio of -6.00 and a beta of -1.84. The company has a fifty day moving average price of C$0.10 and a two-hundred day moving average price of C$0.09. The company has a debt-to-equity ratio of -111.61, a quick ratio of 0.04 and a current ratio of 0.39.

Fortune Minerals (TSE:FT) last released its earnings results on Friday, November 14th. The company reported C$0.00 earnings per share (EPS) for the quarter. Fortune Minerals had a positive return on equity of 30.09% and a negative net margin of 13,690.93%.

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.