Fortune Minerals (TSE:FT) Trading Down 6.7% – Time to Sell?

Fortune Minerals Limited (TSE:FT) shares fell 6.7% during mid-day trading on Monday . The stock traded as low as C$0.07 and last traded at C$0.07. 538,923 shares were traded during trading, an increase of 84% from the average session volume of 292,347 shares. The stock had previously closed at C$0.08.

Wall Street Analyst Weigh In

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

Fortune Minerals Stock Up 18.2 %

The firm has a market capitalization of C$37.72 million, a P/E ratio of -13.19 and a beta of 0.01. The firm’s 50 day moving average is C$0.05 and its two-hundred day moving average 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.

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.