Foran Mining (CVE:FOM) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Foran Mining Co. (CVE:FOM) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

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

Foran Mining Stock Up 3.9%

The company has a quick ratio of 2.90, a current ratio of 6.01 and a debt-to-equity ratio of 18.16. The company has a market capitalization of C$1.72 billion, a PE 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.