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

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

Wall Street Analyst Weigh In

FOM has been the subject of several research reports. Stifel Nicolaus lifted their target price on 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. BMO Capital Markets cut their target price on shares of Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Finally, Ventum Financial raised their price target on shares of 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 firm has a 50 day moving average price of C$3.23 and a 200-day moving average price of 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. The firm has a market cap of C$828.20 million, a PE 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.