Foran Mining (CVE:FOM) Downgraded by ATB Capital to Tender

Foran Mining (CVE:FOM) was downgraded by research analysts at ATB Capital from an “outperform” rating to a “tender” rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$6.60 price target on the stock, up from their previous price target of C$5.00. ATB Capital’s price objective points to a potential upside of 104.33% from the company’s current price.

A number of other equities research analysts have also weighed in on FOM. Scotiabank raised their price objective on Foran Mining from C$4.50 to C$6.00 in a research note on Thursday, January 8th. Ventum Financial upped their target price on shares of Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Finally, National Bankshares boosted their price objective on Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Foran Mining currently has an average rating of “Moderate Buy” and a consensus price target of C$5.73.

Foran Mining Trading Up 3.9%

Shares of FOM stock traded up C$0.12 during mid-day trading on Tuesday, reaching C$3.23. The company’s stock had a trading volume of 1,032,727 shares, compared to its average volume of 494,615. The company has a quick ratio of 2.90, a current ratio of 6.03 and a debt-to-equity ratio of 6.98. The firm has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The company’s 50 day simple moving average is C$3.23 and its 200-day simple moving average is C$3.23. Foran Mining has a 12-month low of C$2.02 and a 12-month high of C$4.32.

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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.