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

Foran Mining Co. (CVE:FOM)’s stock price crossed above its fifty day moving average during trading on Thursday . 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.

Analysts Set New Price Targets

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

Foran Mining Stock Up 3.9 %

The business’s 50 day moving average is C$3.23 and its 200-day 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. The company 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.