Fortune Minerals (TSE:FT) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Fortune Minerals Limited shares have crossed above their 200-day moving average, currently trading at C$0.12, up from a moving average of C$0.07.
• The company focuses on the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories and is planning to build a processing plant in southern Canada.
• Fortune Minerals has a market cap of C$64.36 million and a negative price-to-earnings ratio of -5.75.

Shares of Fortune Minerals Limited (TSE:FT - ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.07 and traded as high as C$0.12. Fortune Minerals shares last traded at C$0.12, with a volume of 2,846,090 shares.

Fortune Minerals Stock Performance

The stock has a 50 day simple moving average of C$0.08 and a 200 day simple moving average of C$0.07. The company has a market cap of C$64.36 million, a price-to-earnings ratio of -5.75 and a beta of -1.32. 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.

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