Foran Mining (CVE:FOM) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of Foran Mining Co. (CVE:FOM) 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 traded.

Analyst Ratings Changes

Several research analysts have recently weighed in on FOM shares. ATB Cormark Capital Markets cut Foran Mining from an “outperform” rating to a “tender” rating and upped their price objective for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. Scotiabank cut shares of Foran Mining from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$6.00 to C$6.60 in a report on Tuesday, March 24th. Stifel Nicolaus cut shares of Foran Mining from a “buy” rating to a “hold” rating and increased their target price for the stock from C$5.50 to C$6.60 in a report on Wednesday, February 11th. Finally, National Bank Financial increased their target price on shares of Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$5.97.

Foran Mining Stock Up 3.9%

The firm has a 50-day moving average of C$3.23 and a 200 day moving average of C$3.23. The company has a debt-to-equity ratio of 18.16, a current ratio of 6.01 and a quick ratio of 2.90. The stock has a market capitalization of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68.

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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.