Foran Mining (TSE:FOM) Shares Down 7.9% – Here’s What Happened

Foran Mining Corp. (TSE:FOM) shares fell 7.9% during trading on Friday . The company traded as low as C$6.55 and last traded at C$6.69. 869,781 shares changed hands during trading, a decline of 69% from the average session volume of 2,851,234 shares. The stock had previously closed at C$7.26.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered Foran Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Foran Mining Trading Down 8.4%

The business’s fifty day moving average is C$5.90 and its 200 day moving average is C$4.34. The company has a market cap of C$3.59 billion, a P/E ratio of -133.00 and a beta of 0.63.

About Foran Mining

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.