Fortune Minerals (TSE:FT) Shares Down 5.6% – Time to Sell?

Fortune Minerals Limited (TSE:FT)’s stock price dropped 5.6% on Wednesday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 6,225 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 223,691 shares. The stock had previously closed at C$0.05.

Analyst Upgrades and Downgrades

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

Fortune Minerals Stock Down 5.6 %

The business’s fifty day moving average price is C$0.05 and its two-hundred day moving average price is C$0.05. The company has a debt-to-equity ratio of -111.61, a quick ratio of 0.04 and a current ratio of 0.39. The firm has a market capitalization of C$24.66 million, a P/E ratio of -8.62 and a beta of 0.01.

About Fortune Minerals

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.