Fortune Minerals (TSE:FT) PT Set at C$0.63 by Fundamental Research

Fortune Minerals (TSE:FT) has been given a C$0.63 price objective by Fundamental Research in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Fundamental Research’s price target suggests a potential upside of 200.00% from the stock’s current price.

Fortune Minerals Price Performance

Shares of TSE FT remained flat at C$0.21 during midday trading on Friday. The stock had a trading volume of 1,697,782 shares, compared to its average volume of 958,845. The company has a quick ratio of 0.04, a current ratio of 0.15 and a debt-to-equity ratio of -157.84. Fortune Minerals has a one year low of C$0.06 and a one year high of C$0.22. The business has a 50 day moving average of C$0.13 and a 200 day 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.

Insider Transactions at Fortune Minerals

In related 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 completion of the sale, the insider directly owned -600,000 shares in the company, valued at C($96,000). The trade was a -1,438.46% decrease in their position. In the last ninety days, insiders sold 1,250,000 shares of company stock valued at $202,565. 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.