Fortune Minerals (TSE:FT) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Fortune Minerals Limited (TSE:FT)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$0.05 and traded as high as C$0.06. Fortune Minerals shares last traded at C$0.06, with a volume of 580,435 shares.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.42 target price on Fortune Minerals and gave the company a “buy” rating in a research note on Tuesday.

Fortune Minerals Stock Up 10.0 %

The company’s 50-day simple moving average is C$0.05 and its two-hundred day simple moving average is C$0.05. 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 firm has a market capitalization of C$31.91 million, a P/E ratio of -11.16 and a beta of 0.01.

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.