Fortune Minerals (TSE:FT) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Fortune Minerals Limited (TSE:FT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.05. Fortune Minerals shares last traded at C$0.05, with a volume of 193,030 shares trading hands.

Analyst Ratings Changes

Separately, Fundamental Research set a C$0.35 price objective on shares of Fortune Minerals and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Fortune Minerals Stock Up 10.0 %

The stock has a 50 day moving average of C$0.05 and a 200 day moving average of C$0.05. The firm has a market capitalization of C$31.91 million, a price-to-earnings ratio of -11.16 and a beta of 0.01. The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61.

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.