Foran Mining (CVE:FOM) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Foran Mining Co. (CVE:FOM)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$3.23 and traded as high as C$3.25. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares traded.

Analyst Ratings Changes

FOM has been the subject of a number of research analyst reports. Stifel Nicolaus lowered shares of Foran Mining from a “buy” rating to a “hold” rating and upped their price target for the stock from C$5.50 to C$6.60 in a research note on Wednesday, February 11th. Scotiabank lowered shares of Foran Mining from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$6.00 to C$6.60 in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Foran Mining has an average rating of “Hold” and a consensus price target of C$6.34.

Foran Mining Stock Up 3.9%

The stock has a market capitalization of C$1.72 billion, a P/E 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’s fifty day moving average is C$3.23 and its two-hundred 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.