Foran Mining (CVE:FOM) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM)’s stock price crossed 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 research firms have weighed in on FOM. ATB Cormark Capital Markets lowered Foran Mining from an “outperform” rating to a “tender” rating and boosted their price objective for the stock from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. National Bank Financial boosted their price target on shares of Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Stifel Nicolaus lowered shares of Foran Mining from a “buy” rating to a “hold” rating and upped their price objective for the company from C$5.50 to C$6.60 in a report on Wednesday, February 11th. Ventum Financial lifted their target price on shares of Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Finally, Scotiabank boosted their target price on shares of Foran Mining from C$4.50 to C$6.00 in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$5.89.

Foran Mining Stock Up 3.9%

The business has a 50-day moving average of C$3.23 and a 200-day moving average of C$3.23. The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. The stock has a market capitalization of C$1.72 billion, a price-to-earnings 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.