Fortune Minerals (TSE:FT) Hits New 12-Month Low – Here’s Why

Fortune Minerals Limited (TSE:FT)’s share price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as C$0.09 and last traded at C$0.08, with a volume of 674,562 shares. The stock had previously closed at C$0.10.

Fortune Minerals Trading Down 10.5%

The company has a quick ratio of 0.04, a current ratio of 0.21 and a debt-to-equity ratio of -230.60. The company has a market cap of C$56.96 million, a PE ratio of -8.50 and a beta of -0.92. The business has a 50-day simple moving average of C$0.13 and a 200-day simple moving average of C$0.13.

Fortune Minerals (TSE:FT) last released its quarterly earnings data on Friday, August 14th. The company reported C($0.01) earnings per share (EPS) for the quarter. Fortune Minerals had a negative net margin of 13,690.93% and a positive return on equity of 80.32%.

Fortune Minerals Company Profile

Fortune is a Canadian mining and mineral processing company focused on developing the NICO cobalt-gold-bismuth-copper project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO deposit and is a potential future source of incremental feed to extend the life of the NICO concentrator.