Foran Mining (CVE:FOM) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Foran Mining (CVE:FOM) from a buy rating to a hold rating in a research note published on Wednesday,BayStreet.CA reports. They currently have C$6.60 target price on the stock, up from their previous target price of C$5.50.

Several other equities analysts also recently weighed in on FOM. ATB Cormark Capital Markets downgraded Foran Mining from an “outperform” rating to a “tender” rating and raised their price objective for the company from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Scotiabank upped their target price on Foran Mining from C$4.50 to C$6.00 in a report on Thursday, January 8th. Ventum Financial raised their price target on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, National Bank Financial boosted their price objective on shares of Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$5.89.

Foran Mining Trading Up 3.9%

Shares of Foran Mining stock opened at C$3.23 on Wednesday. The company has a 50-day moving average of C$3.23 and a two-hundred day moving average of C$3.23. Foran Mining has a 12-month low of C$2.02 and a 12-month high of C$4.32. The company has a current ratio of 6.03, a quick ratio of 2.90 and a debt-to-equity ratio of 6.98. The stock has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68.

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.