Fortune Minerals (TSE:FT) Trading Down 8.3% – Here’s Why

Shares of Fortune Minerals Limited (TSE:FT) fell 8.3% during trading on Friday . The company traded as low as C$0.08 and last traded at C$0.08. 223,932 shares were traded during trading, a decline of 51% from the average session volume of 457,584 shares. The stock had previously closed at C$0.09.

Fortune Minerals Price Performance

The company has a quick ratio of 0.04, a current ratio of 0.39 and a debt-to-equity ratio of -111.61. The stock has a market capitalization of C$49.72 million, a P/E ratio of -4.25 and a beta of -1.42. The business’s 50 day simple moving average is C$0.09 and its two-hundred day simple moving average is C$0.08.

Fortune Minerals (TSE:FT) last issued its quarterly earnings data on Friday, November 14th. The company reported C$0.00 EPS for the quarter. Fortune Minerals had a positive return on equity of 30.09% and a negative net margin of 13,690.93%.

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.