Fortune Minerals (TSE:FT) Shares Down 10%

Shares of Fortune Minerals Limited (TSE:FT) traded down 10% during mid-day trading on Wednesday . The stock traded as low as C$0.07 and last traded at C$0.07. 373,307 shares traded hands during trading, a decline of 25% from the average session volume of 497,948 shares. The stock had previously closed at C$0.08.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$0.35 price target on Fortune Minerals and gave the stock a “buy” rating in a research note on Friday, June 28th.

Fortune Minerals Stock Performance

The company has a debt-to-equity ratio of 24.90, a quick ratio of 0.04 and a current ratio of 0.08. The business has a 50 day moving average price of C$0.08 and a two-hundred day moving average price of C$0.06. The company has a market cap of C$29.98 million, a P/E ratio of -6.00 and a beta of 0.05.

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.