Foran Mining (CVE:FOM) Stock Crosses Below 50-Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM) crossed below its 50-day moving average during trading on Monday . The stock has a 50-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 research firms have issued reports on FOM. National Bankshares lifted their target price on Foran Mining from C$4.25 to C$4.50 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Cormark lifted their price objective on shares of Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. Finally, Scotiabank boosted their price objective on shares of Foran Mining from C$4.25 to C$4.50 in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Foran Mining has a consensus rating of “Moderate Buy” and an average target price of C$4.83.

Foran Mining Stock Performance

The firm 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 6.98, a current ratio of 6.03 and a quick ratio of 2.90. The firm has a fifty day simple moving average of C$3.23 and a two-hundred day simple moving average of 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.