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

Foran Mining Co. (CVE:FOM) crossed 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 changing hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FOM. Stifel Nicolaus upped their price target on shares of Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets dropped their target price 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 price target on Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st.

Foran Mining Stock Up 3.9 %

The business’s fifty day moving average price is C$3.23 and its two-hundred day moving average price is C$3.23. The company has a debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55. The firm has a market capitalization of C$828.20 million, a P/E ratio of -64.60 and a beta of 3.68.

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.