Insider Selling: Fortune Minerals (TSE:FT) Insider Sells C$40,000.00 in Stock

Fortune Minerals Limited (TSE:FT) insider Patricia-Lynn Penney sold 250,000 shares of Fortune Minerals stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of C$0.16, for a total value of C$40,000.00. Following the completion of the transaction, the insider directly owned 67,000 shares of the company’s stock, valued at C$10,720. This represents a 78.86% decrease in their ownership of the stock.

Patricia-Lynn Penney also recently made the following trade(s):

• On Monday, May 4th, Patricia-Lynn Penney sold 256,500 shares of Fortune Minerals stock. The shares were sold at an average price of C$0.17, for a total value of C$43,605.00.
• On Monday, May 4th, Patricia-Lynn Penney sold 76,500 shares of Fortune Minerals stock. The shares were sold at an average price of C$0.16, for a total value of C$12,240.00.
• On Wednesday, May 6th, Patricia-Lynn Penney sold 101,500 shares of Fortune Minerals stock. The shares were sold at an average price of C$0.16, for a total value of C$16,240.00.
• On Thursday, May 7th, Patricia-Lynn Penney sold 4,500 shares of Fortune Minerals stock. The shares were sold at an average price of C$0.16, for a total value of C$720.00.
• On Friday, May 8th, Patricia-Lynn Penney sold 561,000 shares of Fortune Minerals stock. The shares were sold at an average price of C$0.16, for a total value of C$89,760.00.

Fortune Minerals Stock Performance

Fortune Minerals stock opened at C$0.17 on Thursday. The stock has a 50-day simple moving average of C$0.12 and a 200 day simple moving average of C$0.11. The company has a quick ratio of 0.04, a current ratio of 0.20 and a debt-to-equity ratio of -177.44. Fortune Minerals Limited has a 12-month low of C$0.06 and a 12-month high of C$0.22. The stock has a market capitalization of C$100.29 million, a price-to-earnings ratio of -16.50 and a beta of -1.69.

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.