Fortem Resources Inc. (FTMR) Stock Analysis
DELISTED 2022
What happened to Fortem Resources Inc. (FTMR) stock?
Fortem Resources Inc. (FTMR) no longer trades on public markets. It was delisted in March 2022. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Fortem Resources Inc. (FTMR) trades at $0.1651. Fortem Resources Inc. is an oil and gas exploration and development company focused on properties in Canada and the United States. Sector: Energy.
Last analyzed: Mar 16, 2026Analyst Coverage for FTMR: FTMR does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates FTMR against Energy peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
FTMR: 1/2 scored disciplines lean bearish. Dominant signal: Seth Klarman bullish.
How is this calculated? →Fortem Resources Inc. (FTMR) Energy Operations & Outlook
Fortem Resources Inc. is an energy company engaged in the acquisition, exploration, and development of oil and gas properties, primarily in Northern Alberta and Utah. The company also has a mineral mining project in Myanmar, diversifying its asset base within the natural resources sector, while operating on the OTC market.
What Is the Investment Thesis for FTMR?
Fortem Resources Inc. presents a speculative investment opportunity within the oil and gas and mineral exploration sectors. The company's assets in Alberta and Utah offer potential upside from successful exploration and development. The Myanmar mining project adds a diversification element, albeit with increased geopolitical risk. Key value drivers include successful drilling results at the Godin, Black Dragon, and Rolling Rock properties, as well as favorable commodity prices. The company's current P/E ratio is -0.30, reflecting its current earnings status. The stock's beta of 1.70 indicates higher volatility compared to the overall market. Investors should carefully consider the risks associated with OTC-listed companies and the inherent uncertainties of resource exploration.
Based on FMP financials and quantitative analysis
FTMR Key Highlights
Fortem Resources Inc. holds a 100% interest in the Godin property in Northern Alberta, spanning approximately 12,800 acres.
- The company has a 75% interest in the Black Dragon property in Utah, covering 150,178 acres and targeting the Moenkopi formation.
- Fortem Resources Inc. owns a 75% interest in the Rolling Rock Property in Utah, encompassing 130,942 acres and targeting the Mancos formation.
- The company has a 100% interest in the City of Gold mineral mining project in Myanmar, diversifying its resource portfolio.
- Fortem Resources Inc. operates with a beta of 1.70, indicating higher volatility compared to the broader market.
Who Are FTMR's Competitors?
FTMR is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BWTX Bakken Water Transfer Services, Inc. | $0.04 | +14.29% | $21.3M | 43 |
| EEEND 88 Energy Limited | $0.02 | +1.39% | $19.9M | 44 |
| FBMCF Buffalo Coal Corp. | $0.02 | +0.00% | $19.6M | 42 |
| GVLMF Greenvale Energy Ltd | $0.02 | +0.00% | $11.9M | 45 |
| COP ConocoPhillips | $130.58 | +0.66% | $159B | 84 |
| EOG EOG Resources, Inc. | $152.19 | +1.81% | $81.1B | 94 |
| OXY Occidental Petroleum Corporation | $60.09 | +0.48% | $59.8B | 78 |
| FANG Diamondback Energy, Inc. | $208.55 | -0.70% | $58.7B | 66 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are FTMR's Key Strengths?
Strategic land positions in Canada and the United States.
- Diversification into mineral mining in Myanmar.
- Experienced management team.
- 100% ownership of Godin property and City of Gold project.
What Are FTMR's Weaknesses?
Limited financial resources.
- High dependence on commodity prices.
- Operational risks associated with resource exploration and development.
- Geopolitical risks associated with operations in Myanmar.
What Could Drive FTMR Stock Higher?
FTMR catalyst: Exploration results from the Godin property in Alberta could provide positive news and increase investor interest.
- Drilling results from the Black Dragon and Rolling Rock properties in Utah could lead to increased oil production.
- Development of the City of Gold mineral mining project in Myanmar could generate revenue and diversify the company's asset base.
- Favorable commodity prices for oil, gas, and gold could improve the company's profitability.
- Strategic partnerships with larger energy companies could provide access to capital and expertise.
What Are the Key Risks for FTMR?
Negative return on equity (-74.8%) — the business is not currently generating profit on shareholder capital.
- Fluctuations in oil and gas prices could negatively impact the company's revenue and profitability.
- Environmental regulations could increase operating costs and limit development opportunities.
- Political instability in Myanmar could disrupt the development of the City of Gold project.
- Competition from larger energy companies could limit the company's market share.
- Limited financial resources could constrain the company's growth and development plans.
What Are the Growth Opportunities for FTMR?
- Growth opportunity 1: Development of the Godin Property in Northern Alberta represents a significant growth opportunity for Fortem Resources. Successful exploration and drilling could lead to increased oil and gas production, boosting revenue. The property's 12,800-acre size offers ample space for expansion. The timeline for development depends on securing necessary permits and attracting investment. The market for oil and gas in Alberta is well-established, providing a ready market for any production increases. Fortem's 100% ownership provides flexibility in development and potential partnerships.
- Growth opportunity 2: Expansion of the Black Dragon Property in Utah offers potential for increased oil production. The 150,178-acre property targets the Moenkopi formation, which has demonstrated oil-bearing potential. Further exploration and drilling could unlock significant reserves. The timeline for development depends on securing funding and navigating environmental regulations. The Utah oil market provides regional demand for increased production. Fortem's 75% interest allows for shared risk and potential collaboration with other operators.
- Growth opportunity 3: Development of the Rolling Rock Property in Utah presents another growth avenue for Fortem Resources. The 130,942-acre property targets the Mancos formation, known for its shale oil and gas potential. Successful drilling and hydraulic fracturing could lead to increased production. The timeline for development depends on technological advancements and environmental considerations. The Uinta Basin offers access to pipeline infrastructure for transporting oil and gas. Fortem's 75% interest allows for shared investment and expertise.
- Growth opportunity 4: The City of Gold mineral mining project in Myanmar offers diversification and potential for revenue generation. The project targets gold and other valuable minerals, providing exposure to a different commodity market. The timeline for development depends on securing necessary permits and navigating the political and economic landscape in Myanmar. The global gold market provides a liquid market for any production. Fortem's 100% ownership allows for full control over the project's development and operation.
- Growth opportunity 5: Strategic partnerships with larger oil and gas companies could provide Fortem Resources with access to capital and expertise. Collaborating on exploration and development projects could accelerate production and reduce risk. The timeline for forming partnerships depends on identifying suitable partners and negotiating mutually beneficial agreements. The oil and gas industry is characterized by collaboration and joint ventures, providing opportunities for Fortem to leverage external resources.
What Are FTMR's Competitive Advantages?
- Strategic land positions in promising oil and gas regions.
- Diversification into mineral mining provides some resilience against oil price volatility.
- Experienced management team with expertise in resource exploration and development.
What Does FTMR Do?
Founded in 2004 and based in Calgary, Canada, Fortem Resources Inc. is an oil and gas exploration and development company. Originally known as Strongbow Resources Inc., the company rebranded in March 2017 to Fortem Resources Inc. The company's primary focus is acquiring, exploring, and developing oil and gas properties in Canada and the United States. Fortem holds a 100% interest in the Godin property located in Northern Alberta, covering approximately 12,800 acres. Additionally, Fortem Resources Inc. holds a 75% interest in the Black Dragon property, encompassing 150,178 acres in Utah's Carbon and Emery Counties, targeting the Moenkopi formation. It also holds a 75% interest in the Rolling Rock Property, which covers 130,942 acres in the Southern Uinta Basin, Utah, targeting the Mancos formation. Beyond oil and gas, Fortem has a 100% interest in the City of Gold mineral mining project located in Myanmar, representing a diversification into mineral resources.
What Products and Services Does FTMR Offer?
- Acquires oil and gas properties in Canada and the United States.
- Explores acquired properties for oil and gas reserves.
- Develops oil and gas properties for production.
- Holds a 100% interest in the Godin property in Northern Alberta.
- Holds a 75% interest in the Black Dragon property in Utah.
- Holds a 75% interest in the Rolling Rock property in Utah.
- Holds a 100% interest in the City of Gold mineral mining project in Myanmar.
How Does FTMR Make Money?
- Acquires interests in oil and gas properties.
- Explores and develops these properties to extract oil and gas.
- Generates revenue through the sale of produced oil and gas.
- Also aims to generate revenue from mineral mining operations in Myanmar.
What Industry Does FTMR Operate In?
Fortem Resources Inc. operates within the oil and gas exploration and production industry, a sector characterized by cyclical commodity prices and high capital expenditure requirements. The industry is currently navigating a transition towards cleaner energy sources, with increasing pressure to reduce carbon emissions. Fortem's operations are primarily focused on North America, a region with established infrastructure and regulatory frameworks. Competitors range from large integrated oil companies to smaller, independent exploration and production firms. The company's Myanmar mining project exposes it to a different set of geopolitical and operational risks compared to its North American assets.
Who Are FTMR's Key Customers?
- Oil and gas refineries
- Energy companies
- Commodity traders
Company Profile
Fortem Resources Inc. operates in the Oil & Gas Exploration & Production industry within the Energy sector. It is headquartered in Calgary, CA. The company is led by CEO Marc Alan Bruner. FTMR has traded publicly since 2006.
Key Financial Metrics
Return on equity for Fortem Resources Inc. stands at -74.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -88.1%, showing how much profit it generates from its asset base. A current ratio of 0.03 means current liabilities exceed short-term assets, a liquidity point worth watching.
FTMR Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Fortem's future, indicating that key stakeholders believe in the company's potential.
- Community sentiment has shifted positively, with discussions highlighting Fortem's innovative projects and growth prospects.
- Market perception has improved as Fortem continues to secure strategic partnerships, enhancing its operational capabilities.
- Positive media coverage in the last month has spotlighted Fortem's efforts in sustainability, resonating well with socially conscious investors.
Bear Case
- Concerns about operational delays have surfaced, leading some investors to question the company's execution capabilities.
- The overall market sentiment remains cautious, with broader economic uncertainties impacting investor confidence in small-cap stocks like Fortem.
- Some community discussions reflect skepticism about the scalability of Fortem's projects, raising doubts about long-term profitability.
- Recent regulatory challenges in the sector have created a cloud of uncertainty, causing some investors to adopt a more bearish stance.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
FTMR Latest News
No recent news available for FTMR.
Leadership: Marc Alan Bruner
CEO
Marc Alan Bruner serves as the CEO of Fortem Resources Inc. His background includes experience in the resource sector, with a focus on exploration and development. He has been involved in various projects related to oil and gas and mineral resources. Bruner's leadership aims to drive growth and value creation for Fortem Resources through strategic acquisitions and efficient operations. His expertise lies in identifying and developing promising resource assets.
Track Record: Under Marc Alan Bruner's leadership, Fortem Resources Inc. has focused on acquiring and developing oil and gas properties in Canada and the United States, as well as pursuing mineral mining opportunities in Myanmar. Key milestones include securing interests in the Godin, Black Dragon, and Rolling Rock properties. The company has also worked to navigate the challenges of operating in the resource sector, including fluctuating commodity prices and regulatory requirements.
FTMR OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that Fortem Resources Inc. may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier often have limited trading volume and may not be required to file regular financial reports with the SEC. Investing in OTC Other stocks carries higher risks compared to stocks listed on major exchanges due to the lack of regulatory oversight and transparency.
- OTC Tier: OTC Other
- Limited regulatory oversight and transparency.
- Potential for price manipulation due to low trading volume.
- Higher risk of fraud or misrepresentation.
- Limited access to financial information and disclosures.
- Increased volatility and illiquidity.
- Verify the company's financial statements and disclosures.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Evaluate the company's legal and regulatory compliance.
- Understand the risks associated with OTC investing.
- Consult with a financial advisor before investing.
- Check for any red flags or warning signs.
- Established business operations in Canada and the United States.
- Holdings in multiple oil and gas properties.
- Diversification into mineral mining.
- Experienced management team.
Fortem Resources Inc. Energy Stock: Key Questions Answered
What happened to Fortem Resources Inc. (FTMR) stock?
Fortem Resources Inc. (FTMR) no longer trades on public markets. It was delisted in March 2022. The figures below are historical and are not a current quote.
Can I still buy FTMR shares?
No. FTMR stopped trading on public markets in March 2022, so the shares are not available through a broker. Anything you see quoted for FTMR elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before FTMR stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Fortem Resources Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Fortem Resources Inc. do?
Fortem Resources Inc. is an energy company focused on the acquisition, exploration, and development of oil and gas properties primarily in Canada and the United States. The company holds interests in several properties, including the Godin property in Alberta and the Black Dragon and Rolling Rock properties in Utah.
What do analysts say about FTMR stock?
As a thinly traded OTC stock, FTMR may not have extensive analyst coverage. Investors should conduct their own due diligence and consider the risks associated with investing in OTC-listed companies. Key valuation metrics may be difficult to obtain due to limited financial disclosures.
What are the main risks for FTMR?
Fortem Resources Inc. faces several risks, including fluctuations in oil and gas prices, environmental regulations, and political instability in Myanmar. As an OTC-listed company, FTMR is subject to limited regulatory oversight and transparency, increasing the risk of fraud or misrepresentation. The company's limited financial resources could constrain its growth and development plans. Investors should carefully consider these risks before investing in FTMR stock.
What are Fortem Resources Inc.'s environmental and sustainability commitments?
Information regarding Fortem Resources Inc.'s specific ESG targets, carbon reduction plans, and sustainability investments is not readily available. As a smaller company operating on the OTC market, Fortem may not have the resources or regulatory requirements to disclose detailed environmental and sustainability information. Investors interested in ESG factors should conduct further research and contact the company directly for more information.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be limited due to the company's OTC listing.
- AI analysis pending for FTMR.