Foran Mining (CVE:FOM) Shares Cross Below Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 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 traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Scotiabank increased their price objective on shares of Foran Mining from C$4.25 to C$4.50 in a report on Tuesday, October 28th. National Bankshares upped their price objective on 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 increased their price objective on Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$4.50.

Foran Mining Stock Up 3.9%

The firm’s 50-day simple moving average is C$3.23 and its 200 day simple moving average is C$3.23. The company has a debt-to-equity ratio of 6.98, a quick ratio of 2.90 and a current ratio of 6.03. The company has a market cap of C$1.72 billion, a P/E 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.