Fortune Minerals (TSE:FT) Shares Up 18.2% – Should You Buy?

Fortune Minerals Limited (TSE:FT)’s stock price was up 18.2% during mid-day trading on Friday . The company traded as high as C$0.07 and last traded at C$0.07. Approximately 784,886 shares changed hands during mid-day trading, an increase of 234% from the average daily volume of 235,011 shares. The stock had previously closed at C$0.06.

Analyst Ratings Changes

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 Price Performance

The company has a current ratio of 0.39, a quick ratio of 0.04 and a debt-to-equity ratio of -111.61. The stock has a fifty day simple moving average of C$0.05 and a 200-day simple moving average of C$0.05. The stock has a market cap of C$43.52 million, a price-to-earnings ratio of -15.22 and a beta of 0.01.

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.