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 50 day moving average during trading on Thursday . 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 traded.

Wall Street Analysts Forecast Growth

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

Foran Mining Trading Up 3.9 %

The stock has a market cap of C$828.20 million, a price-to-earnings ratio of -64.60 and a beta of 3.68. The business’s fifty day simple moving average is C$3.23 and its 200 day simple moving average is C$3.23. The company has a debt-to-equity ratio of 13.01, a current ratio of 6.55 and a quick ratio of 2.90.

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.