Fortune Minerals (TSE:FT) Stock Price Up 2.8% – Here’s Why

Fortune Minerals Limited (TSE:FT)’s share price traded up 2.8% during trading on Tuesday . The stock traded as high as C$0.20 and last traded at C$0.19. 274,255 shares changed 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 Stock Up 6.8%

The company has a quick ratio of 0.04, a current ratio of 0.15 and a debt-to-equity ratio of -157.84. The company has a fifty day simple moving average of C$0.13 and a 200 day simple moving average of C$0.11. The firm has a market capitalization of C$118.53 million, a P/E ratio of -19.50 and a beta of -1.69.

Insider Buying and Selling

In other Fortune Minerals news, insider Patricia-Lynn Penney sold 561,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of C$0.16, for a total value of C$89,760.00. Following the sale, the insider directly owned -600,000 shares of the company’s stock, valued at approximately C($96,000). The trade was a -1,438.46% decrease in their ownership of the stock. Insiders sold 1,250,000 shares of company stock valued at $202,565 over the last 90 days. 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.