Foran Mining (CVE:FOM) Shares Pass Below Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on FOM shares. Ventum Financial boosted their price target on shares of Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. Cormark lifted their price objective on shares of Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. National Bankshares increased their target price on Foran Mining from C$4.50 to C$5.25 and gave the company an “outperform” rating in a report on Thursday, December 11th. Finally, Scotiabank raised their price target on Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$5.04.

Foran Mining Stock Up 3.9%

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

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.