Foran Mining (CVE:FOM) Shares Cross Above Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s stock price passed above its 50 day moving average during trading on Friday . 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 trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Ventum Financial upped their price target on shares of Foran Mining from C$6.00 to C$6.50 in a report on Thursday, November 21st.

Foran Mining Price Performance

The company has a market cap of C$828.20 million, a P/E ratio of -64.60 and a beta of 3.68. The company has a debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55. 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.