Fortune Minerals (TSE:FT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Fortune Minerals Limited (TSE:FT) passed 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$0.11. Fortune Minerals shares last traded at C$0.11, with a volume of 655,901 shares trading hands.

Wall Street Analysts Forecast Growth

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

Fortune Minerals Stock Performance

The firm has a market capitalization of C$60.93 million, a price-to-earnings ratio of -21.30 and a beta of 0.01. The firm has a 50 day moving average price of C$0.07 and a 200-day moving average price of C$0.06. 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.