Fortune Minerals (TSE:FT) Trading Down 5.6% – What’s Next?

Fortune Minerals Limited (TSE:FT)’s stock price dropped 5.6% during trading on Wednesday . The company traded as low as C$0.09 and last traded at C$0.09. Approximately 174,920 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 460,102 shares. The stock had previously closed at C$0.09.

Fortune Minerals Price Performance

The firm has a 50-day simple moving average of C$0.09 and a 200-day simple moving average of C$0.08. The firm has a market cap of C$49.72 million, a P/E ratio of -4.25 and a beta of -1.35. The company has a current ratio of 0.39, a quick ratio of 0.04 and a debt-to-equity ratio of -111.61.

Fortune Minerals (TSE:FT) last issued its quarterly earnings data on Friday, November 14th. The company reported C$0.00 earnings per share for the quarter. Fortune Minerals had a positive return on equity of 30.09% and a negative net margin of 13,690.93%.

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.