Foran Mining (CVE:FOM) Shares Cross Below Fifty Day Moving Average – Here’s Why

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 changing hands.

Wall Street Analyst Weigh In

Separately, Ventum Financial upped their price objective on shares of Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st.

Foran Mining Price Performance

The business has a 50 day simple moving average of C$3.23 and a 200-day simple moving average of C$3.23. The company has a debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55. The stock has a market cap of C$828.20 million, a P/E ratio of -64.60 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.