Fortune Minerals (TSE:FT) Trading Down 4.5% – Here’s Why

Fortune Minerals Limited (TSE:FT)’s stock price traded down 4.5% on Tuesday . The stock traded as low as C$0.10 and last traded at C$0.11. 1,172,370 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 946,487 shares. The stock had previously closed at C$0.11.

Fortune Minerals Stock Performance

The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61. The firm has a market capitalization of C$61.42 million, a P/E ratio of -5.25 and a beta of -1.75. The company’s 50 day moving average is C$0.09 and its 200-day moving average is C$0.09.

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

About Fortune Minerals

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.