Foran Mining (CVE:FOM) Shares Cross Above 50 Day Moving Average – What’s Next?

Shares of Foran Mining Co. (CVE:FOM) passed 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 changing hands.

Wall Street Analyst Weigh In

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

Foran Mining Stock Up 3.9 %

The company has a current ratio of 6.55, a quick ratio of 2.90 and a debt-to-equity ratio of 13.01. 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. The firm’s 50 day simple moving average is C$3.23 and its 200-day simple moving average is 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.