Foran Mining (CVE:FOM) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$3.23 and traded as low as C$3.09. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FOM. ATB Cormark Capital Markets lowered Foran Mining from an “outperform” rating to a “tender” rating and raised their price objective for the company from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Scotiabank raised their price target on shares of Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. Ventum Financial lifted their price target on shares of Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. Stifel Nicolaus downgraded shares of Foran Mining from a “buy” rating to a “hold” rating and increased their price objective for the company from C$5.50 to C$6.60 in a research note on Wednesday, February 11th. Finally, National Bank Financial raised their target price on shares of Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$5.89.

Foran Mining Trading Up 3.9%

The business’s fifty day moving average is C$3.23 and its 200-day moving average is C$3.23. The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. The firm has a market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68.

Foran Mining Company Profile

Foran Mining Corporation engages in the acquisition, exploration, and development of mineral properties. The company primarily explores for copper, zinc, gold, and silver deposits. Its flagship project is the McIlvenna Bay property comprising 38 claims that covers a total area of 20,907 hectares located in east central Saskatchewan. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.