Foran Mining (CVE:FOM) Stock Passes Below 50-Day Moving Average – Should You Sell?

Shares of Foran Mining Co. (CVE:FOM) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$3.23 and traded as low as C$3.09. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares.

Wall Street Analyst Weigh In

Separately, Ventum Financial increased their price target on shares of Foran Mining from C$6.00 to C$6.50 in a report on Thursday, November 21st.

Foran Mining Stock Performance

The company has a debt-to-equity ratio of 6.98, a current ratio of 6.03 and a quick ratio of 2.90. The stock has a market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The company has a 50 day simple moving average of C$3.23 and a 200-day simple moving average of C$3.23.

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.