Foran Mining (CVE:FOM) Shares Cross Above 50-Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM)’s stock 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 changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on FOM. Stifel Nicolaus increased their price objective on shares of Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Ventum Financial increased their price objective on shares of Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st. Finally, BMO Capital Markets lowered their price objective on shares of Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating for the company in a research report on Wednesday, September 18th.

Foran Mining Trading Up 3.9 %

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 business’s 50 day moving average is C$3.23 and its 200-day moving average is C$3.23. The firm has a market cap of C$828.20 million, a P/E 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.