Fortune Minerals (TSE:FT) Shares Pass Above 200-Day Moving Average – Time to Sell?

Fortune Minerals Limited (TSE:FT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.05 and traded as high as C$0.05. Fortune Minerals shares last traded at C$0.05, with a volume of 193,030 shares changing hands.

Analyst Upgrades and Downgrades

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

Fortune Minerals Stock Up 10.0 %

The firm has a 50 day moving average price of C$0.05 and a 200-day moving average price of C$0.05. The firm has a market cap of C$31.91 million, a price-to-earnings ratio of -11.16 and a beta of 0.01. The company has a current ratio of 0.39, a quick ratio of 0.04 and a debt-to-equity ratio of -111.61.

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.