Foran Mining (CVE:FOM) Stock Rating Lowered by Stifel Nicolaus

Foran Mining (CVE:FOM) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They currently have a C$6.60 price target on the stock, up from their previous price target of C$5.50. Stifel Nicolaus’ price objective would suggest a potential upside of 104.33% from the stock’s current price.

A number of other research firms have also commented on FOM. National Bankshares increased their price objective on Foran Mining from C$5.25 to C$8.50 in a research note on Thursday, January 29th. Scotiabank raised their target price on shares of Foran Mining from C$4.50 to C$6.00 in a research report on Thursday, January 8th. ATB Capital cut shares of Foran Mining from an “outperform” rating to a “tender” rating and lifted their target price for the stock from C$5.00 to C$6.60 in a research note on Tuesday, February 3rd. Finally, Ventum Financial boosted their price target on Foran Mining from C$5.25 to C$5.50 in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Foran Mining has a consensus rating of “Moderate Buy” and a consensus target price of C$5.89.

Foran Mining Price Performance

Shares of FOM traded up C$0.12 during mid-day trading on Wednesday, reaching C$3.23. 1,032,727 shares of the company’s stock were exchanged, 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. Foran Mining has a 52-week low of C$2.02 and a 52-week high of C$4.32. The company has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. The company has a 50-day simple moving average of C$3.23 and a two-hundred day simple moving average 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.