Fortune Minerals (TSE:FT) Share Price Crosses Above 200-Day Moving Average of $0.06

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$0.07. Fortune Minerals shares last traded at C$0.06, with a volume of 36,557 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.35 price objective on shares of Fortune Minerals and gave the stock a “buy” rating in a research report on Friday, June 28th.

Fortune Minerals Price Performance

The company has a 50-day moving average of C$0.07 and a 200-day moving average of C$0.06. The company has a debt-to-equity ratio of 24.90, a quick ratio of 0.04 and a current ratio of 0.05. The stock has a market cap of C$30.41 million, a price-to-earnings ratio of -6.00 and a beta of 0.03.

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.