Foran Mining (CVE:FOM) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Foran Mining Co. (CVE:FOM) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 analysts recently commented on FOM shares. Ventum Financial lifted their price objective on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Scotiabank raised their price target on shares of Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. National Bank Financial lifted their price target on shares of Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. ATB Cormark Capital Markets lowered shares of Foran Mining from an “outperform” rating to a “tender” rating and boosted their price objective for the company from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. Finally, Stifel Nicolaus downgraded 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 research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$5.89.

Foran Mining Price Performance

The company has a 50-day moving average of C$3.23 and a two-hundred day moving average of C$3.23. The company has a debt-to-equity ratio of 36.64, a current ratio of 2.54 and a quick ratio of 2.90. The stock has a market capitalization of C$1.72 billion, a PE 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.