Fortune Minerals (TSE:FT) Shares Down 5.6% – What’s Next?

Fortune Minerals Limited (TSE:FT) shares traded down 5.6% during trading on Wednesday . The company traded as low as C$0.04 and last traded at C$0.04. 6,225 shares traded hands during trading, a decline of 97% from the average session volume of 223,691 shares. The stock had previously closed at C$0.05.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.35 target price on shares of Fortune Minerals and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Fortune Minerals Trading Down 11.1 %

The business’s 50-day moving average price is C$0.05 and its two-hundred day moving average price is C$0.05. 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 debt-to-equity ratio of -111.61, a current ratio of 0.39 and a quick ratio of 0.04.

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.