Foran Mining (CVE:FOM) Cut to “Tender” at ATB Capital

Foran Mining (CVE:FOM) was downgraded by equities research analysts at ATB Capital from an “outperform” rating to a “tender” rating in a report issued on Tuesday,BayStreet.CA reports. They presently have a C$6.60 price objective on the stock, up from their prior price objective of C$5.00. ATB Capital’s price objective points to a potential upside of 104.33% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank increased their price objective on shares of Foran Mining from C$4.50 to C$6.00 in a research report on Thursday, January 8th. Ventum Financial increased their price target on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, National Bankshares raised their target price on shares of Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$5.73.

Foran Mining Stock Performance

FOM traded up C$0.12 on Tuesday, reaching C$3.23. 1,032,727 shares of the stock were exchanged, 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 debt-to-equity ratio of 6.98, a current ratio of 6.03 and a quick ratio of 2.90. The firm has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The company’s 50-day moving average price is C$3.23 and its 200 day moving average price 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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.