Fortune Minerals (TSE:FT) Stock Price Passes Above 200 Day Moving Average of $0.06

Fortune Minerals Limited (TSE:FT) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.06 and traded as high as C$0.07. Fortune Minerals shares last traded at C$0.07, with a volume of 143,550 shares.

Wall Street Analyst Weigh In

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

Fortune Minerals Stock Performance

The business’s 50-day moving average price is C$0.06 and its 200-day moving average price is C$0.06. The firm has a market capitalization of C$30.41 million, a PE ratio of -6.00 and a beta of 0.02. The company has a debt-to-equity ratio of 24.90, a current ratio of 0.05 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.