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

Foran Mining Co. (CVE:FOMGet Free Report)’s stock price passed below its 50 day moving average during trading on Friday . 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FOM shares. Cormark boosted their target price on Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. National Bankshares boosted their price objective on Foran Mining from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Ventum Financial upped their target price on shares of Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, Scotiabank lifted their price target on shares of Foran Mining from C$4.50 to C$6.00 in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Foran Mining has an average rating of “Moderate Buy” and a consensus target price of C$5.04.

Check Out Our Latest Stock Report on FOM

Foran Mining Price Performance

The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. 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 company has a 50-day moving average price of C$3.23 and a 200-day moving average price of C$3.23.

About Foran Mining

(Get Free Report)

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.

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