Foran Mining (CVE:FOM) Stock Crosses Below 200 Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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

Several brokerages have recently commented on FOM. National Bank Financial boosted their target price on shares of Foran Mining from C$5.25 to C$8.50 in a research note on Thursday, January 29th. Stifel Nicolaus downgraded shares of Foran Mining from a “buy” rating to a “hold” rating and boosted their target price for the company from C$5.50 to C$6.60 in a research note on Wednesday, February 11th. ATB Cormark Capital Markets downgraded shares of Foran Mining from an “outperform” rating to a “tender” rating and boosted their target price for the company from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Finally, Scotiabank downgraded shares of Foran Mining from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$6.00 to C$6.60 in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$5.97.

Foran Mining Trading Up 3.9%

The company has a debt-to-equity ratio of 36.69, a quick ratio of 2.90 and a current ratio of 1.58. The company has a market capitalization of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. The business’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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.