Foran Mining (CVE:FOM) Stock Price Expected to Rise, Scotiabank Analyst Says

Foran Mining (CVE:FOM) had its price objective raised by analysts at Scotiabank from C$4.50 to C$6.00 in a report released on Thursday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 85.76% from the stock’s previous close.

Several other research analysts also recently commented on FOM. Cormark boosted their target price on Foran Mining from C$3.75 to C$4.25 in a research note on Tuesday, September 30th. National Bankshares lifted their price target on shares of Foran Mining from C$4.50 to C$5.25 and gave the company an “outperform” rating in a report on Thursday, December 11th. Finally, Ventum Financial increased their price objective on shares of Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Foran Mining currently has a consensus rating of “Moderate Buy” and an average target price of C$5.04.

Foran Mining Trading Up 3.9%

Shares of FOM opened at C$3.23 on Thursday. The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. Foran Mining has a 52-week low of C$2.02 and a 52-week high of C$4.32. 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 business’s fifty day moving average is C$3.23 and its 200-day moving average 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.