Insider Selling: Fortune Minerals (TSE:FT) Insider Sells 101,500 Shares of Stock

Fortune Minerals Limited (TSE:FT) insider Patricia-Lynn Penney sold 101,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of C$0.16, for a total transaction of C$16,240.00. Following the transaction, the insider owned -34,500 shares of the company’s stock, valued at approximately C($5,520). This represents a 151.49% decrease in their ownership of the stock.

Patricia-Lynn Penney also recently made the following trade(s):

• On Monday, May 4th, Patricia-Lynn Penney sold 256,500 shares of Fortune Minerals stock. The stock was sold at an average price of C$0.17, for a total transaction of C$43,605.00.
• On Monday, May 4th, Patricia-Lynn Penney sold 76,500 shares of Fortune Minerals stock. The stock was sold at an average price of C$0.16, for a total transaction of C$12,240.00.
• On Tuesday, May 5th, Patricia-Lynn Penney sold 250,000 shares of Fortune Minerals stock. The stock was sold at an average price of C$0.16, for a total transaction of C$40,000.00.
• On Thursday, May 7th, Patricia-Lynn Penney sold 4,500 shares of Fortune Minerals stock. The stock was sold at an average price of C$0.16, for a total transaction of C$720.00.
• On Friday, May 8th, Patricia-Lynn Penney sold 561,000 shares of Fortune Minerals stock. The stock was sold at an average price of C$0.16, for a total transaction of C$89,760.00.

Fortune Minerals Price Performance

FT stock traded down C$0.01 during trading on Monday, reaching C$0.17. 603,677 shares of the company were exchanged, compared to its average volume of 943,993. The company has a 50-day moving average of C$0.12 and a two-hundred day moving average of C$0.11. The company has a market capitalization of C$100.29 million, a price-to-earnings ratio of -16.50 and a beta of -1.69. Fortune Minerals Limited has a twelve month low of C$0.06 and a twelve month high of C$0.22. The company has a debt-to-equity ratio of -177.44, a current ratio of 0.20 and a quick ratio of 0.04.

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.