Foran Mining (CVE:FOM) Share Price Crosses Below Fifty Day Moving Average of $3.23

Shares of Foran Mining Co. (CVE:FOM) crossed 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FOM. Stifel Nicolaus increased their target price on Foran Mining from C$4.50 to C$4.75 in a research note on Thursday, December 14th. National Bankshares set a C$5.50 target price on Foran Mining and gave the stock an “outperform” rating in a research note on Wednesday, December 13th.

Foran Mining Stock Up 3.9 %

The stock has a market capitalization of C$828.20 million, a PE ratio of -64.60 and a beta of 3.68. The firm has a 50 day moving average of C$3.23 and a two-hundred day moving average of C$3.23. The company has a current ratio of 6.55, a quick ratio of 2.90 and a debt-to-equity ratio of 13.01.

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.