Foran Mining (CVE:FOM) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Foran Mining Co. (CVE:FOM) crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FOM shares. National Bank Financial raised their price target on Foran Mining from C$5.25 to C$8.50 in a research report on Thursday, January 29th. Scotiabank downgraded Foran Mining from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$6.00 to C$6.60 in a research report on Tuesday, March 24th. Stifel Nicolaus downgraded Foran Mining from a “buy” rating to a “hold” rating and raised their price target for the stock from C$5.50 to C$6.60 in a research report on Wednesday, February 11th. Finally, ATB Cormark Capital Markets downgraded Foran Mining from an “outperform” rating to a “tender” rating and raised their price target for the stock from C$5.00 to C$6.60 in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$6.34.

Foran Mining Stock Performance

The firm has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The company has a debt-to-equity ratio of 18.16, a current ratio of 6.01 and a quick ratio of 2.90. The stock has a 50-day moving average price of C$3.23 and a 200 day moving average price 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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.