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

Foran Mining Co. (CVE:FOM)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 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

A number of analysts recently weighed in on FOM shares. Stifel Nicolaus cut shares of 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. Scotiabank downgraded shares of Foran Mining from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$6.00 to C$6.60 in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Foran Mining has an average rating of “Hold” and a consensus price target of C$6.34.

Foran Mining Trading Up 3.9%

The company has a current ratio of 6.01, a quick ratio of 2.90 and a debt-to-equity ratio of 18.16. The firm has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The company’s 50-day moving average is C$3.23 and its 200 day moving average is C$3.23.

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.