Fortune Minerals (TSE:FT) Shares Down 6.7% – Here’s Why

Shares of Fortune Minerals Limited (TSE:FT) traded down 6.7% on Monday . The stock traded as low as C$0.07 and last traded at C$0.07. 538,923 shares changed hands during mid-day trading, an increase of 84% from the average session volume of 292,347 shares. The stock had previously closed at C$0.08.

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 research note on Tuesday, February 11th.

Fortune Minerals Trading Down 20.0 %

The company has a debt-to-equity ratio of -111.61, a quick ratio of 0.04 and a current ratio of 0.39. The stock has a market capitalization of C$34.82 million, a P/E ratio of -12.17 and a beta of 0.01. The stock has a 50-day moving average price of C$0.05 and a two-hundred day moving average price 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.