Fortune Minerals (TSE:FT) Shares Down 5.6% – What’s Next?

Fortune Minerals Limited (TSE:FT)’s stock price fell 5.6% during mid-day trading on Wednesday . The company traded as low as C$0.04 and last traded at C$0.04. 6,225 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 223,691 shares. The stock had previously closed at C$0.05.

Wall Street Analysts Forecast Growth

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

Fortune Minerals Stock Down 11.1 %

The business’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. The company has a market cap of C$23.21 million, a P/E ratio of -8.12 and a beta of 0.01.

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.