Foran Mining (OTCMKTS:FMCXF) Stock Price Up 4.2% – Here’s Why

Foran Mining Co. (OTCMKTS:FMCXF) shares traded up 4.2% during mid-day trading on Friday . The stock traded as high as $5.3820 and last traded at $5.3150. 58,338 shares were traded during trading, a decline of 75% from the average session volume of 232,985 shares. The stock had previously closed at $5.10.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reiterated an “outperform” rating on shares of Foran Mining in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Foran Mining Trading Up 4.2%

The firm’s 50-day moving average price is $4.08 and its two-hundred day moving average price is $3.02.

About Foran Mining

Foran Mining Corp. is a Vancouver, British Columbia–based mineral exploration and development company focused on discovering and advancing high-grade copper-zinc volcanogenic massive sulfide (VMS) deposits. The company’s flagship asset is the McIlvenna Bay project, a 100%-owned VMS deposit located in the prolific Flin Flon Greenstone Belt of northern Saskatchewan. McIlvenna Bay hosts a multi-million-tonne resource containing copper, zinc, gold and silver, and has been the subject of numerous drilling campaigns aimed at expanding the known mineralization and upgrading the project’s resource classification.

In addition to McIlvenna Bay, Foran holds a portfolio of complementary exploration properties in Saskatchewan’s mineral-rich Hanson Lake and Bigstone areas, where historic VMS showings and district-scale volcanogenic systems offer potential for new discoveries.