Fortune Minerals (TSE:FT) Share Price Passes Above 200 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Shares of Fortune Minerals Limited (TSE:FT – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.14 and traded as high as C$0.14. Fortune Minerals shares last traded at C$0.14, with a volume of 363,706 shares.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.63 target price on shares of Fortune Minerals and gave the company a “buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$0.63.

Check Out Our Latest Analysis on FT

Fortune Minerals Price Performance

The company has a market capitalization of C$100.52 million, a price-to-earnings ratio of -15.00 and a beta of -1.54. 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 stock’s 50-day moving average price is C$0.14 and its 200-day moving average price is C$0.14.

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

About Fortune Minerals

(Get Free Report)

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.

Recommended Stories