Fortune Minerals (TSE:FT) Shares Down 5.6% – Here’s What Happened

Fortune Minerals Limited (TSE:FT) shares fell 5.6% during mid-day trading on Thursday . The company traded as low as C$0.04 and last traded at C$0.04. 52,500 shares changed hands during trading, a decline of 78% from the average session volume of 237,317 shares. The stock had previously closed at C$0.05.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.35 price objective on Fortune Minerals and gave the company a “buy” rating in a report on Tuesday.

Fortune Minerals Stock Down 11.1 %

The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61. The company has a market capitalization of C$23.21 million, a P/E ratio of -8.12 and a beta of 0.01. The company has a 50-day moving average of C$0.05 and a two-hundred day moving average of C$0.05.

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.