Foran Mining (CVE:FOM) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Foran Mining Co. (CVE:FOM) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$3.23 and traded as high as C$3.25. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FOM shares. Stifel Nicolaus raised their target price on shares of Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. BMO Capital Markets reduced their price target on shares of Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Finally, Ventum Financial boosted their price objective on shares of Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st.

Foran Mining Stock Performance

The company has a debt-to-equity ratio of 13.01, a current ratio of 6.55 and a quick ratio of 2.90. The stock has a market cap of C$828.20 million, a P/E ratio of -64.60 and a beta of 3.68. The stock has a 50-day simple moving average of C$3.23 and a 200-day simple moving average of C$3.23.

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.