Foran Mining (CVE:FOM) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Foran Mining Co. (CVE:FOM)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 brokerages recently issued reports on FOM. Scotiabank increased their target price on shares of Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. ATB Capital cut shares of Foran Mining from an “outperform” rating to a “tender” rating and increased their price objective for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. National Bankshares boosted their target price on Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Finally, Ventum Financial upped their price target on Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$5.73.

Foran Mining Price Performance

The stock has a market capitalization of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The business has a fifty day simple moving average of C$3.23 and a 200 day simple moving average of C$3.23. The company has a current ratio of 6.03, a quick ratio of 2.90 and a debt-to-equity ratio of 6.98.

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.