Foran Mining (CVE:FOM) Shares Cross Below 50-Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) passed below its 50 day moving average during trading on Thursday . The stock has a 50 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 changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FOM shares. 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. ATB Cormark Capital Markets cut shares of Foran Mining from an “outperform” rating to a “tender” rating and boosted their price objective for the company from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. Ventum Financial increased their target price on shares of Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Stifel Nicolaus lowered shares of Foran Mining from a “buy” rating to a “hold” rating and raised their target price for the stock from C$5.50 to C$6.60 in a report on Wednesday, February 11th. Finally, Scotiabank lifted their price target on shares of Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$5.89.

Foran Mining Stock Up 3.9%

The company has a debt-to-equity ratio of 36.64, a quick ratio of 2.90 and a current ratio of 2.54. The company has a fifty day simple moving average of C$3.23 and a two-hundred day simple moving average of C$3.23. The firm has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68.

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.