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Fortune Minerals
(TSX:FT)
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Rating:42Neutral
Price Target:
C$0.12
▲(23.00% Upside)
Action:Reiterated
Date:07/16/26
The score is driven primarily by weak financial performance (pre-revenue, ongoing losses, cash burn, negative equity, and debt exceeding assets), which materially elevates funding and dilution risk. Technical indicators add to the caution with a clear downtrend and negative MACD, despite oversold readings. Valuation offers limited support because the negative P/E reflects continuing losses and there is no dividend yield provided.
Positive Factors
Multi-commodity project
Fortune's NICO project targets multiple payable products (cobalt, bismuth, copper, gold). A multi-commodity output can diversify revenue sources once operational, reducing single-commodity exposure and improving the resilience of long-term project economics versus single-metal developers.
Negative Factors
Pre-revenue with widening losses
The company remains pre-revenue and reported widening TTM net losses (~$5.7M). Without operating revenue, ongoing losses erode reserves and require external financing to advance the project, creating durable execution and dilution risk until production or material financing is secured.
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Positive Factors
Negative Factors
Multi-commodity project
Fortune's NICO project targets multiple payable products (cobalt, bismuth, copper, gold). A multi-commodity output can diversify revenue sources once operational, reducing single-commodity exposure and improving the resilience of long-term project economics versus single-metal developers.
Read all positive factors
Fortune Minerals (FT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$80.74M
Dividend YieldN/A
Average Volume (3M)694.35K
Price to Earnings (P/E)―
Beta (1Y)1.65
Revenue GrowthN/A
EPS Growth-28.21%
CountryCA
Employees4
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding656,408,940
10 Day Avg. Volume1,496,217
30 Day Avg. Volume694,354
Financial Highlights & Ratios
PEG Ratio-0.75
Price to Book (P/B)-4.65
Price to Sales (P/S)0.00
P/FCF Ratio-6.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.63Price Target Upside530.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Fortune Minerals Business Overview & Revenue Model
Company Description
Fortune Minerals Limited is a Canadian company focused on discovering and advancing projects for various metals, including specialty, industrial, and precious varieties. The company primarily explores for deposits of gold, cobalt, bismuth, copper,...
How the Company Makes Money
As a development-stage mining company, Fortune Minerals’ ability to generate revenue is primarily expected to come from bringing mineral assets into production and selling produced metals into commodity markets. The company’s core economic plan ce...
Fortune Minerals Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -66.65K | -66.53K | -69.86K | -58.14K | -60.89K |
| EBITDA | -3.26M | -2.43M | -1.48M | -360.00K | -784.00K |
| Net Income | -4.52M | -3.61M | -2.85M | -32.97M | -2.41M |
Balance Sheet | |||||
| Total Assets | 10.29M | 4.82M | 1.56M | 46.45M | 78.61M |
| Cash, Cash Equivalents and Short-Term Investments | 2.26M | 1.59M | 673.63K | 78.65K | 1.80M |
| Total Debt | 17.80M | 12.73M | 9.50M | 8.31M | 13.08M |
| Total Liabilities | 20.32M | 16.22M | 10.02M | 8.57M | 14.75M |
| Stockholders Equity | -10.03M | -11.40M | -8.46M | 37.87M | 63.86M |
Cash Flow | |||||
| Free Cash Flow | -7.05M | -1.79M | -1.38M | -1.54M | -908.04K |
| Operating Cash Flow | -2.97M | -186.52K | -1.21M | -1.20M | -814.59K |
| Investing Cash Flow | -4.08M | -1.60M | -185.59K | -726.33K | -1.37M |
| Financing Cash Flow | 7.71M | 2.71M | 1.99M | 204.32K | 2.91M |
Fortune Minerals Technical Analysis
Negative
0.10
Price Trends
0.17
Negative
0.14
Negative
0.12
Negative
Market Momentum
-0.01
Positive
31.55
Neutral
1.80
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FT, the sentiment is Negative. The current price of 0.1 is below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.17, and below the 200-day MA of 0.12, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 31.55 is Neutral, neither overbought nor oversold. The STOCH value of 1.80 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FT.
Fortune Minerals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | C$46.03M | -20.90 | -3.42% | ― | ― | 27.81% | |
46 Neutral | C$92.94M | 34.39 | -5.33% | ― | ― | ― | |
45 Neutral | C$39.71M | -42.50 | -3.27% | ― | ― | -60.00% | |
45 Neutral | C$21.72M | -30.16 | -1.60% | ― | ― | 63.10% | |
43 Neutral | C$65.91M | -50.75 | -50.02% | ― | ― | 39.82% | |
42 Neutral | C$80.74M | -12.25 | 52.59% | ― | ― | -28.21% |
* Basic Materials Sector Average
TSE:FT
Fortune Minerals
0.13
0.05
56.25%
TSE:LCE
Century Lithium
0.27
-0.08
-23.19%
TSE:ESK
Eskay Mining
0.35
-0.12
-25.00%
TSE:NMI
Namibia Critical Metals Inc
0.17
0.08
88.89%
TSE:NKL
Nickel 28 Capital Corp
1.08
0.31
40.26%
TSE:CNRI
Canadian North Resources, Inc.
0.24
-0.46
-66.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.