Foran Mining (CVE:FOM) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s share price crossed above its fifty day moving average during trading on Tuesday . 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Scotiabank lowered Foran Mining from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$6.00 to C$6.60 in a report on Tuesday, March 24th. Stifel Nicolaus lowered Foran Mining from a “buy” rating to a “hold” rating and raised their target price for the stock from C$5.50 to C$6.60 in a report on Wednesday, February 11th. Finally, ATB Cormark Capital Markets lowered Foran Mining from an “outperform” rating to a “tender” rating and raised their target price for the stock from C$5.00 to C$6.60 in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$6.34.

Foran Mining Stock Performance

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 firm has a fifty day simple moving average of C$3.23 and a 200 day simple moving average of C$3.23. The company has a market capitalization of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68.

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.