Foran Mining (CVE:FOM) Stock Rating Lowered by Stifel Nicolaus

Foran Mining (CVE:FOM) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$6.60 price target on the stock, up from their previous price target of C$5.50. Stifel Nicolaus’ target price suggests a potential upside of 104.33% from the company’s current price.

Several other equities analysts also recently commented on FOM. National Bank Financial increased their price target on Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Ventum Financial lifted their target price on shares of Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. ATB Capital cut shares of Foran Mining from an “outperform” rating to a “tender” rating and upped their price target for the company from C$5.00 to C$6.60 in a report on Tuesday, February 3rd. Finally, Scotiabank raised their price target on Foran Mining from C$4.50 to C$6.00 in a research report on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$5.89.

Foran Mining Stock Performance

Shares of FOM opened at C$3.23 on Wednesday. The company has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. The company’s 50 day moving average price is C$3.23 and its 200 day moving average price is C$3.23. Foran Mining has a 52 week low of C$2.02 and a 52 week high of C$4.32.

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.