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

Shares of Foran Mining Co. (CVE:FOM) 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 traded.

Wall Street Analysts Forecast Growth

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

Foran Mining Trading Up 3.9 %

The company has a quick ratio of 2.90, a current ratio of 6.55 and a debt-to-equity ratio of 13.01. The company has a 50-day moving average price of C$3.23 and a 200-day moving average price of C$3.23. The company has a market capitalization of C$828.20 million, a price-to-earnings ratio of -64.60 and a beta of 3.68.

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.