Fortune Minerals (Fortune Minerals) Debt-to-Equity : -1.12 (As of Dec. 2023)

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What is Fortune Minerals Debt-to-Equity?

Fortune Minerals's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $6.95 Mil. Fortune Minerals's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0.13 Mil. Fortune Minerals's Total Stockholders Equity for the quarter that ended in Dec. 2023 was $-6.31 Mil. Fortune Minerals's debt to equity for the quarter that ended in Dec. 2023 was -1.12.

A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.

The historical rank and industry rank for Fortune Minerals's Debt-to-Equity or its related term are showing as below:

FTMDF' s Debt-to-Equity Range Over the Past 10 Years
Min: -1.12 Med: 0.1 Max: 0.53
Current: -1.12

During the past 13 years, the highest Debt-to-Equity Ratio of Fortune Minerals was 0.53. The lowest was -1.12. And the median was 0.10.

FTMDF's Debt-to-Equity is not ranked
in the Metals & Mining industry.
Industry Median: 0.13 vs FTMDF: -1.12

Fortune Minerals Debt-to-Equity Historical Data

The historical data trend for Fortune Minerals's Debt-to-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fortune Minerals Debt-to-Equity Chart

Fortune Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-Equity

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0.13

0.16

-1.08

-1.12

Fortune Minerals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-Equity	Get a 7-Day Free Trial															-1.08	0.23	0.24	0.25	-1.12

Competitive Comparison of Fortune Minerals's Debt-to-Equity

For the Other Industrial Metals & Mining subindustry, Fortune Minerals's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Fortune Minerals's Debt-to-Equity Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Fortune Minerals's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Fortune Minerals's Debt-to-Equity falls into.

Fortune Minerals Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Fortune Minerals's Debt to Equity Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(6.953	+	0.126)	/	-6.309
	=	-1.12

Fortune Minerals's Debt to Equity Ratio for the quarter that ended in Dec. 2023 is calculated as

Debt to Equity	=	Total Debt			/	Total Stockholders Equity
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Total Stockholders Equity
	=	(6.953	+	0.126)	/	-6.309
	=	-1.12

Fortune Minerals (OTCPK:FTMDF) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.

Be Aware

Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.

Fortune Minerals Debt-to-Equity Related Terms

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Fortune Minerals (Fortune Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Minerals Ltd (OTCPK:FTMDF) » Definitions » Debt-to-Equity

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FT:Canada

Address

617 Wellington Street, London, ON, CAN, N6A 3R6

Website

https://www.fortuneminerals.com

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.