Foran Mining (CVE:FOM) Stock Passes Below 50-Day Moving Average – Should You Sell?

Foran Mining Co. (CVE:FOM)’s share price passed 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.

Wall Street Analysts Forecast Growth

Separately, Ventum Financial raised their target price on 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 market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The company has a quick ratio of 2.90, a current ratio of 6.03 and a debt-to-equity ratio of 6.98. The firm’s 50-day moving average price is C$3.23 and its 200-day moving average price is C$3.23.

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.