Fortune Minerals (TSE:FT) Stock Price Down 5.6% – Here’s What Happened

Fortune Minerals Limited (TSE:FT) shares fell 5.6% on Thursday . The stock traded as low as C$0.04 and last traded at C$0.04. 52,500 shares were traded during mid-day trading, a decline of 78% from the average session volume of 237,317 shares. The stock had previously closed at C$0.05.

Analyst Upgrades and Downgrades

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

Fortune Minerals Stock Performance

The firm’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 quick ratio of 0.04 and a current ratio of 0.39. The company has a market cap of C$26.11 million, a price-to-earnings ratio of -9.13 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.