Foran Mining (CVE:FOM) Rating Lowered to “Market Perform” at BMO Capital Markets

Foran Mining (CVE:FOM) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Thursday,BayStreet.CA reports. They presently have a C$3.75 target price on the stock, down from their prior target price of C$5.00. BMO Capital Markets’ price target would indicate a potential upside of 16.10% from the stock’s previous close.

Several other equities analysts also recently commented on FOM. Stifel Nicolaus boosted their price objective on Foran Mining from C$5.00 to C$5.50 in a research report on Wednesday, April 30th. Scotiabank lowered their price objective on Foran Mining from C$4.25 to C$4.00 and set an “outperform” rating on the stock in a research report on Thursday.

Foran Mining Stock Performance

CVE:FOM opened at C$3.23 on Thursday. The stock has a 50-day simple moving average of C$3.23 and a two-hundred day simple moving average of C$3.23. Foran Mining has a 52-week low of C$2.02 and a 52-week high of C$4.32. 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 capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68.

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.