Fortune Minerals (TSE:FT) Trading 18.2% Higher – What’s Next?

Fortune Minerals Limited (TSE:FT) rose 18.2% during mid-day trading on Friday . The stock traded as high as C$0.07 and last traded at C$0.07. Approximately 784,886 shares changed hands during mid-day trading, an increase of 234% from the average daily volume of 235,011 shares. The stock had previously closed at C$0.06.

Analyst Ratings Changes

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

Fortune Minerals Stock Performance

The firm has a market cap of C$37.72 million, a P/E ratio of -13.19 and a beta of 0.01. The stock’s 50-day moving average price is C$0.05 and its 200 day moving average price 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.

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.