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

Foran Mining Co. (CVE:FOM) passed above its fifty day moving average during trading on Wednesday . 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 changing hands.

Wall Street Analyst Weigh In

FOM has been the subject of several research analyst reports. Ventum Financial upped their price target on shares of Foran Mining from C$6.00 to C$6.50 in a research report 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 for the company in a report on Wednesday, September 18th. Finally, Stifel Nicolaus lifted their price target on 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.

Foran Mining Stock Up 3.9 %

The company has a debt-to-equity ratio of 13.01, a current ratio of 6.55 and a quick ratio of 2.90. The company has a market capitalization of C$828.20 million, a PE ratio of -64.60 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.

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.