Foran Mining (CVE:FOM) Shares Pass Below 50 Day Moving Average – Should You Sell?

Shares of Foran Mining Co. (CVE:FOM) crossed below its fifty day moving average during trading on Friday . The stock has a fifty 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 changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FOM shares. Scotiabank lifted their target price on shares of Foran Mining from C$4.25 to C$4.50 in a report on Tuesday. National Bankshares lifted their target price on shares of Foran Mining from C$4.25 to C$4.50 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, Cormark lifted their target price on shares of Foran Mining from C$3.75 to C$4.25 in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Foran Mining has a consensus rating of “Moderate Buy” and a consensus price target of C$4.83.

Foran Mining Stock Performance

The firm has a market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The stock’s 50 day moving average is C$3.23 and its two-hundred day moving average is C$3.23. The company has a debt-to-equity ratio of 6.98, a current ratio of 6.03 and a quick ratio of 2.90.

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.