Foran Mining (CVE:FOM) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Foran Mining Co. (CVE:FOM) shares passed above its 50 day moving average during trading on Tuesday . 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.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FOM shares. Ventum Financial increased their price objective on shares of Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. National Bank Financial upped their target price on shares of Foran Mining from C$5.25 to C$8.50 in a research note on Thursday, January 29th. Scotiabank cut Foran Mining from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$6.00 to C$6.60 in a report on Tuesday, March 24th. Stifel Nicolaus lowered Foran Mining from a “buy” rating to a “hold” rating and boosted their price target for the company from C$5.50 to C$6.60 in a report on Wednesday, February 11th. Finally, ATB Cormark Capital Markets cut Foran Mining from an “outperform” rating to a “tender” rating and upped their price objective for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Foran Mining currently has an average rating of “Hold” and a consensus price target of C$5.97.

Foran Mining Stock Performance

The stock’s 50-day moving average price is C$3.23 and its 200 day moving average price is C$3.23. The firm 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 debt-to-equity ratio of 36.69, a current ratio of 1.58 and a quick ratio of 2.90.

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.