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

Foran Mining Co. (CVE:FOM) crossed above its 50-day moving average during trading on Wednesday . 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered 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 report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$6.34.

Foran Mining Price Performance

The firm’s 50-day moving average is C$3.23 and its 200-day moving average is C$3.23. The company has a debt-to-equity ratio of 18.16, a current ratio of 6.01 and a quick ratio of 2.90. The company has a market capitalization of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68.

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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.