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

Shares of Foran Mining Co. (CVE:FOM) passed above its 50-day moving average during trading on Friday . 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.

Wall Street Analyst Weigh In

FOM has been the subject of several research reports. Stifel Nicolaus lifted their price target on Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Ventum Financial raised their target price on Foran Mining from C$6.00 to C$6.50 in a report on Thursday, November 21st.

Foran Mining Stock Performance

The stock’s 50-day simple moving average is C$3.23 and its 200 day simple moving average is C$3.23. The stock has a market capitalization of C$828.20 million, a price-to-earnings ratio of -64.60 and a beta of 3.68. The company has a quick ratio of 2.90, a current ratio of 6.55 and a debt-to-equity ratio of 13.01.

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.