Shares of Fortune Minerals Limited (TSE:FT – Get Free Report) traded up 2.8% on Tuesday . The company traded as high as C$0.20 and last traded at C$0.19. 274,255 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 936,729 shares. The stock had previously closed at C$0.18.
Fortune Minerals Price Performance
The firm has a market cap of C$112.45 million, a P/E ratio of -18.50 and a beta of -1.69. The company has a fifty day moving average of C$0.13 and a 200-day moving average of C$0.11. The company has a debt-to-equity ratio of -177.44, a current ratio of 0.20 and a quick ratio of 0.04.
Insider Activity
In other news, insider Patricia-Lynn Penney sold 561,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of C$0.16, for a total value of C$89,760.00. Following the completion of the sale, the insider owned -600,000 shares in the company, valued at C($96,000). This represents a -1,438.46% decrease in their ownership of the stock. In the last three months, insiders have sold 1,250,000 shares of company stock valued at $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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