Fortune Minerals (TSE:FT – Get Free Report) has been assigned a C$0.63 price objective by analysts at Fundamental Research in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Fundamental Research’s price objective points to a potential upside of 200.00% from the stock’s current price.
Fortune Minerals Price Performance
FT remained flat at C$0.21 during trading on Friday. The company had a trading volume of 1,697,782 shares, compared to its average volume of 958,845. The stock has a 50 day simple moving average of C$0.13 and a 200 day simple moving average of C$0.11. The company has a market capitalization of C$127.64 million, a price-to-earnings ratio of -21.00 and a beta of -1.69. Fortune Minerals has a twelve month low of C$0.06 and a twelve month high of C$0.22. The company has a current ratio of 0.15, a quick ratio of 0.04 and a debt-to-equity ratio of -157.84.
Insider Buying and Selling at Fortune Minerals
In other news, insider Patricia-Lynn Penney sold 561,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of C$0.16, for a total transaction of C$89,760.00. Following the completion of the sale, the insider directly owned -600,000 shares in the company, valued at approximately C($96,000). This represents a -1,438.46% decrease in their position. In the last ninety days, insiders sold 1,250,000 shares of company stock worth $202,565. Corporate insiders own 5.87% of the company’s stock.
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.
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