Foran Mining (CVE:FOM) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s share price passed below its 50 day moving average during trading on Tuesday . 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 Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Scotiabank decreased their price objective on shares of Foran Mining from C$4.25 to C$4.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Stifel Nicolaus upped their price objective on shares of Foran Mining from C$5.00 to C$5.50 in a research report on Wednesday, April 30th. Finally, BMO Capital Markets cut shares of Foran Mining from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$5.00 to C$3.75 in a research report on Thursday, May 22nd.

Foran Mining Price Performance

The business has a 50 day moving average of C$3.23 and a 200 day moving average of C$3.23. The company has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. 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.