Fortune Minerals (TSE:FT) Share Price Crosses Above 200-Day Moving Average of $0.06

Fortune Minerals Limited (TSE:FT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.06 and traded as high as C$0.06. Fortune Minerals shares last traded at C$0.06, with a volume of 200,924 shares changing hands.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.35 target price on Fortune Minerals and gave the stock a “buy” rating in a research note on Friday, June 28th.

Fortune Minerals Stock Down 8.3 %

The company has a debt-to-equity ratio of 24.90, a quick ratio of 0.04 and a current ratio of 0.05. The company has a market cap of C$27.88 million, a P/E ratio of -5.50 and a beta of 0.02. The business’s fifty day moving average is C$0.06 and its two-hundred day moving average is C$0.06.

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.