Foran Mining (CVE:FOM) Stock Price Passes Above 50-Day Moving Average of $3.23

Foran Mining Co. (CVE:FOM)’s share price crossed above its fifty day moving average during trading on Tuesday . 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 1,032,725 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FOM. Stifel Nicolaus boosted their target price on 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 cut 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. Ventum Financial boosted their target price on Foran Mining from C$5.75 to C$6.00 in a research report on Tuesday, June 4th. Finally, Eight Capital boosted their target price on Foran Mining from C$6.00 to C$6.25 in a research report on Thursday, July 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$5.51.

Foran Mining Stock Up 3.9 %

The company has a debt-to-equity ratio of 13.01, a current ratio of 6.55 and a quick ratio of 2.90. The firm has a market cap of C$828.20 million, a PE ratio of -64.60 and a beta of 3.68. The business has a fifty day moving average price of C$3.23 and a two-hundred day moving average price 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.