BMO Capital Markets Cuts Foran Mining (CVE:FOM) Price Target to C$5.00

Foran Mining (CVE:FOM) had its price target dropped by stock analysts at BMO Capital Markets from C$5.25 to C$5.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 54.80% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Ventum Financial increased their price target on Foran Mining from C$5.75 to C$6.00 in a research note on Tuesday, June 4th. Eight Capital lifted their target price on Foran Mining from C$6.00 to C$6.25 in a report on Thursday, July 11th.

Foran Mining Price Performance

Shares of FOM stock traded up C$0.12 during trading hours on Wednesday, reaching C$3.23. The company’s stock had a trading volume of 1,032,727 shares, compared to its average volume of 494,615. Foran Mining has a fifty-two week low of C$2.02 and a fifty-two week high of C$4.32. The company 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 quick ratio of 2.90, a current ratio of 6.55 and a debt-to-equity ratio of 13.01. The firm’s 50 day simple moving average is C$3.23 and its 200-day simple moving average is C$3.23.

About Foran Mining

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.