Fortune Minerals (TSE:FT) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Fortune Minerals Limited (TSE:FT - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.06 and traded as high as C$0.11. Fortune Minerals shares last traded at C$0.10, with a volume of 132,155 shares traded.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.42 price target on shares of Fortune Minerals and gave the stock a "buy" rating in a research report on Tuesday, April 22nd.

Fortune Minerals Price Performance

The firm has a market capitalization of C$55.12 million, a price-to-earnings ratio of -19.27 and a beta of 0.01. The company has a fifty day moving average price of C$0.07 and a two-hundred day moving average price of C$0.06. The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61.

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.