Foran Mining (CVE:FOM) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

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

Analysts Set New Price Targets

Several research firms recently weighed in on FOM. Ventum Financial raised their target price on shares of Foran Mining from C$6.00 to C$6.50 in a research note on Thursday, November 21st. BMO Capital Markets reduced their target price on Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus increased their price target on Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th.

Foran Mining Stock Performance

The company has a market capitalization of C$828.20 million, a PE ratio of -64.60 and a beta of 3.68. The firm’s 50-day simple moving average is C$3.23 and its 200-day simple moving average is C$3.23. The company has a current ratio of 6.55, a quick ratio of 2.90 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.