Fortune Minerals (TSE:FT) Hits New 12-Month High - What's Next?

Key Points

• Fortune Minerals Limited shares reached a new 52-week high, trading at C$0.12 before settling at C$0.11, with a trading volume of over 2 million shares.
• The company, which has a market cap of C$67.16 million, is focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories.
• Fortune Minerals plans to establish a hydrometallurgical plant in southern Canada to process metal concentrates from the NICO project, enhancing future production potential.

Shares of Fortune Minerals Limited (TSE:FT - ) reached a new 52-week high on Wednesday . The stock traded as high as C$0.12 and last traded at C$0.11, with a volume of 2044220 shares. The stock had previously closed at C$0.11.

Fortune Minerals Stock Performance

The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61. The business has a 50 day simple moving average of C$0.08 and a two-hundred day simple moving average of C$0.07. The firm has a market cap of C$67.16 million, a PE ratio of -6.00 and a beta of -1.32.

Fortune Minerals Company Profile

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.

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