Foran Mining (CVE:FOM) Stock Passes Below 200-Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

Several analysts recently commented on the company. ATB Cormark Capital Markets cut Foran Mining from an “outperform” rating to a “tender” rating and boosted their price target for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. National Bank Financial boosted their price target on Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Scotiabank cut Foran Mining from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from C$6.00 to C$6.60 in a research report on Tuesday, March 24th. Finally, Stifel Nicolaus lowered Foran Mining from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$5.50 to C$6.60 in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Foran Mining has a consensus rating of “Hold” and an average target price of C$6.34.

Foran Mining Price Performance

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

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