Fortune Minerals (TSE:FT) Sets New 12-Month High – Here’s What Happened

Fortune Minerals Limited (TSE:FT) hit a new 52-week high during trading on Thursday . The company traded as high as C$0.22 and last traded at C$0.21, with a volume of 621244 shares trading hands. The stock had previously closed at C$0.20.

Fortune Minerals Price Performance

The stock has a market cap of C$127.64 million, a price-to-earnings ratio of -21.00 and a beta of -1.69. The company has a debt-to-equity ratio of -157.84, a current ratio of 0.15 and a quick ratio of 0.04. The stock’s 50 day simple moving average is C$0.13 and its two-hundred day simple moving average is C$0.11.

Insider Buying and Selling at Fortune Minerals

In related news, insider Patricia-Lynn Penney sold 561,000 shares of the company’s 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 sale, the insider owned -600,000 shares of the company’s stock, valued at C($96,000). The trade was a -1,438.46% decrease in their ownership of the stock. In the last quarter, insiders have sold 1,250,000 shares of company stock worth $202,565. 5.87% of the stock is currently owned by insiders.

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.