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

Foran Mining Co. (CVE:FOM)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FOM shares. Stifel Nicolaus boosted their target price on shares of Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. BMO Capital Markets decreased their price objective on Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Finally, Ventum Financial boosted their target price on Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st.

Foran Mining Price Performance

The company’s fifty day moving average is C$3.23 and its two-hundred day moving average is C$3.23. The company has a quick ratio of 2.90, a current ratio of 6.55 and a debt-to-equity ratio of 13.01. The firm has a market capitalization of C$828.20 million, a price-to-earnings ratio of -64.60 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.