Foran Mining (CVE:FOM) Downgraded to “Hold” Rating by Stifel Nicolaus

Foran Mining (CVE:FOM) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note 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’ price objective indicates a potential upside of 104.33% from the company’s previous close.

FOM has been the subject of several other research reports. ATB Capital downgraded shares of Foran Mining from an “outperform” rating to a “tender” rating and boosted their target price for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. National Bankshares boosted their price objective on Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Ventum Financial upped their price objective on Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Finally, Scotiabank lifted their target price on Foran Mining from C$4.50 to C$6.00 in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$5.89.

Foran Mining Stock Up 3.9%

CVE FOM traded up C$0.12 during mid-day trading on Wednesday, reaching C$3.23. 1,032,727 shares of the company’s stock traded hands, compared to its average volume of 494,615. The company has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. The company has a current ratio of 6.03, a quick ratio of 2.90 and a debt-to-equity ratio of 6.98. The company has a fifty day simple moving average of C$3.23 and a 200-day simple moving average of C$3.23. Foran Mining has a 1-year low of C$2.02 and a 1-year 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.