Foran Mining (CVE:FOM) Lowered to Hold Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Foran Mining (CVE:FOM) from a buy rating to a hold rating in a research report report published on Wednesday,BayStreet.CA reports. Stifel Nicolaus currently has C$6.60 price target on the stock, up from their prior price target of C$5.50.

A number of other analysts also recently issued reports on FOM. Scotiabank raised their price objective on shares of Foran Mining from C$4.50 to C$6.00 in a report on Thursday, January 8th. ATB Capital downgraded shares of Foran Mining from an “outperform” rating to a “tender” rating and increased their target price for the company from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. Ventum Financial lifted their price target on shares of Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. Finally, National Bank Financial upped their price objective on Foran Mining from C$5.25 to C$8.50 in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.89.

Foran Mining Stock Up 3.9%

FOM traded up C$0.12 during midday trading on Wednesday, reaching C$3.23. 1,032,727 shares of the company were exchanged, compared to its average volume of 494,615. Foran Mining has a one year low of C$2.02 and a one year high of C$4.32. 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’s fifty day moving average price is C$3.23 and its 200 day moving average price is C$3.23. The company has a market cap of C$1.72 billion, a price-to-earnings 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.