Foran Mining (CVE:FOM) Stock Crosses Below 50-Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FOM shares. National Bankshares boosted their target price on shares of Foran Mining from C$4.50 to C$5.25 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Cormark boosted their price objective on shares of Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. Ventum Financial upped their price objective on shares of Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Finally, Scotiabank lifted their target price on shares of Foran Mining from C$4.25 to C$4.50 in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$4.79.

Foran Mining Stock Performance

The company has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The stock’s 50 day simple moving average is C$3.23 and its two-hundred day simple moving average is C$3.23. The company has a quick ratio of 2.90, a current ratio of 6.03 and a debt-to-equity ratio of 6.98.

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.