Foran Mining (TSE:FOM) Shares Down 3.9% – Here’s What Happened

Foran Mining Corp. (TSE:FOM)’s stock price traded down 3.9% on Wednesday . The stock traded as low as C$5.31 and last traded at C$5.44. 10,270,116 shares traded hands during trading, an increase of 222% from the average session volume of 3,189,256 shares. The stock had previously closed at C$5.66.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus lowered Foran Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Scotiabank downgraded Foran Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Foran Mining Stock Performance

The company’s 50 day moving average price is C$6.12 and its 200 day moving average price is C$5.10. The company has a market cap of C$3.07 billion, a price-to-earnings ratio of -106.80 and a beta of 1.08.

Foran Mining (TSE:FOM) last announced its quarterly earnings results on Thursday, March 19th. The company reported C$0.01 EPS for the quarter.

Foran Mining Company Profile

Foran Mining Corp is a zinc-copper exploration and development company with projects located along the Flin Flon Greenstone Belt. Its project portfolio comprises McIlvenna Bay, Bigstone, VMS Primer, Hanson Lake Project, and others projects.