Fortune Minerals (TSE:FT) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Fortune Minerals Limited (TSE:FT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.10 and traded as high as C$0.12. Fortune Minerals shares last traded at C$0.11, with a volume of 395,087 shares.

Fortune Minerals Price Performance

The stock has a market capitalization of C$64.34 million, a price-to-earnings ratio of -5.50 and a beta of -2.12. The business has a 50-day moving average of C$0.12 and a 200-day moving average of C$0.10. The company has a debt-to-equity ratio of -140.09, a quick ratio of 0.04 and a current ratio of 0.22.

About Fortune Minerals

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.