Foran Mining (CVE:FOM) Downgraded by ATB Capital to Tender

ATB Capital cut shares of Foran Mining (CVE:FOM) from an outperform rating to a tender rating in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has C$6.60 price target on the stock, up from their prior price target of C$5.00.

A number of other brokerages have also recently commented on FOM. National Bankshares upped their target price on shares of Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Ventum Financial increased their price objective on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, Scotiabank lifted their target price on Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$5.73.

Foran Mining Trading Up 3.9%

CVE:FOM opened at C$3.23 on Tuesday. The stock has a 50-day simple moving average of C$3.23 and a 200-day simple moving average of C$3.23. The stock has a market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. Foran Mining has a 1 year low of C$2.02 and a 1 year 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.

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.