Foran Mining (CVE:FOM) Stock Passes Below 50-Day Moving Average – Should You Sell?

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.

Analyst Ratings Changes

A number of research firms have issued reports on FOM. Ventum Financial increased their target price on shares of Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Scotiabank increased their price objective on Foran Mining from C$4.25 to C$4.50 in a report on Tuesday, October 28th. Cormark boosted their target price on Foran Mining from C$3.75 to C$4.25 in a research note on Tuesday, September 30th. Finally, National Bankshares upped their target price on Foran Mining from C$4.50 to C$5.25 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Foran Mining has a consensus rating of “Moderate Buy” and a consensus price target of C$4.79.

Foran Mining Stock Performance

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. The firm has a 50 day moving average price of C$3.23 and a 200-day moving average price of C$3.23.

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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.