Foran Mining (CVE:FOM) Shares Pass Above 50 Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) shares 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 traded.

Analysts Set New Price Targets

Several equities analysts have commented on FOM shares. BMO Capital Markets dropped their target price on 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. Stifel Nicolaus raised 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 report on Tuesday, September 24th. Finally, Ventum Financial boosted their target price on shares of Foran Mining from C$6.00 to C$6.50 in a report on Thursday, November 21st.

Foran Mining Price Performance

The company has a fifty day simple moving average of C$3.23 and a 200 day simple moving average of 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 debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55.

Foran Mining Company Profile

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.