Foran Mining (CVE:FOM) Shares Cross Above 50-Day Moving Average – Should You Sell?

Foran Mining Co. (CVE:FOM) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$3.23 and traded as high as C$3.25. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. ATB Cormark Capital Markets cut Foran Mining from an “outperform” rating to a “tender” rating and boosted their target price for the company from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Scotiabank cut Foran Mining from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$6.00 to C$6.60 in a research note on Tuesday, March 24th. Stifel Nicolaus cut Foran Mining from a “buy” rating to a “hold” rating and boosted their target price for the company from C$5.50 to C$6.60 in a research note on Wednesday, February 11th. Finally, National Bank Financial boosted their target price on Foran Mining from C$5.25 to C$8.50 in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Foran Mining has a consensus rating of “Hold” and a consensus target price of C$5.97.

Foran Mining Price Performance

The company has a quick ratio of 2.90, a current ratio of 6.01 and a debt-to-equity ratio of 18.16. The company has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. The company’s fifty day moving average price is C$3.23 and its two-hundred day moving average price is C$3.23.

About Foran Mining

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.