Foran Mining (OTCMKTS:FMCXF) Shares Up 0.5% – Should You Buy?

Foran Mining Co. (OTCMKTS:FMCXF)’s share price shot up 0.5% on Thursday . The company traded as high as $4.59 and last traded at $4.5680. 146,796 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 156,364 shares. The stock had previously closed at $4.5440.

Analyst Ratings Changes

Several equities research analysts have commented on FMCXF shares. Scotiabank reiterated an “outperform” rating on shares of Foran Mining in a research note on Tuesday, October 28th. BMO Capital Markets upgraded Foran Mining from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Foran Mining currently has a consensus rating of “Buy”.

Foran Mining Stock Up 0.5%

The stock’s 50 day simple moving average is $3.44 and its two-hundred day simple moving average is $2.70.

Foran Mining Company Profile

Foran Mining Corp. is a Vancouver, British Columbia–based mineral exploration and development company focused on discovering and advancing high-grade copper-zinc volcanogenic massive sulfide (VMS) deposits. The company’s flagship asset is the McIlvenna Bay project, a 100%-owned VMS deposit located in the prolific Flin Flon Greenstone Belt of northern Saskatchewan. McIlvenna Bay hosts a multi-million-tonne resource containing copper, zinc, gold and silver, and has been the subject of numerous drilling campaigns aimed at expanding the known mineralization and upgrading the project’s resource classification.

In addition to McIlvenna Bay, Foran holds a portfolio of complementary exploration properties in Saskatchewan’s mineral-rich Hanson Lake and Bigstone areas, where historic VMS showings and district-scale volcanogenic systems offer potential for new discoveries.