Fortune Minerals (TSE:FT) Share Price Passes Above 200 Day Moving Average – Here’s Why

Fortune Minerals Limited (TSE:FT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.07. Fortune Minerals shares last traded at C$0.07, with a volume of 681,390 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.42 target price on Fortune Minerals and gave the stock a “buy” rating in a research report on Tuesday, April 22nd.

Fortune Minerals Stock Up 7.7%

The company has a debt-to-equity ratio of -111.61, a current ratio of 0.39 and a quick ratio of 0.04. The company has a market capitalization of C$40.62 million, a PE ratio of -14.20 and a beta of 0.01. The business has a 50-day moving average of C$0.06 and a 200 day moving average of C$0.05.

Fortune Minerals Company Profile

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.