Foran Mining (CVE:FOM) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

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 1,032,725 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on FOM shares. BMO Capital Markets dropped their price objective on Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Eight Capital upped their price target on Foran Mining from C$6.00 to C$6.25 in a research report on Thursday, July 11th. Finally, Stifel Nicolaus lifted their price objective on Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Foran Mining Stock Up 3.9 %

The stock has a market capitalization 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 current ratio of 6.55 and a quick ratio of 2.90. The stock has a fifty day moving average price of C$3.23 and a 200 day moving average price 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.