Foran Mining (CVE:FOM) Lowered to “Sector Perform” Rating by Scotiabank

Scotiabank cut shares of Foran Mining (CVE:FOM) from an outperform rating to a sector perform rating in a research note published on Tuesday morning,BayStreet.CA reports. Scotiabank currently has C$6.60 target price on the stock, up from their prior target price of C$6.00.

Other analysts also recently issued research reports about the company. ATB Cormark Capital Markets downgraded Foran Mining from an “outperform” rating to a “tender” rating and raised their price objective for the stock from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Ventum Financial increased their price target on Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. National Bank Financial raised their price target on Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Finally, Stifel Nicolaus cut Foran Mining from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$5.50 to C$6.60 in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Foran Mining currently has an average rating of “Hold” and an average target price of C$5.97.

Foran Mining Price Performance

Shares of FOM stock opened at C$3.23 on Tuesday. The firm has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. Foran Mining has a 12 month low of C$2.02 and a 12 month high of C$4.32. The company has a quick ratio of 2.90, a current ratio of 1.58 and a debt-to-equity ratio of 36.69. The stock has a 50-day moving average price of C$3.23 and a 200 day moving average price of C$3.23.

Foran Mining Company Profile

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.