Foran Mining (TSE:FOM) Trading Up 10.8% – Still a Buy?

Foran Mining Corp. (TSE:FOM) rose 10.8% during mid-day trading on Wednesday . The company traded as high as C$4.41 and last traded at C$4.32. Approximately 1,597,037 shares changed hands during trading, an increase of 67% from the average daily volume of 953,589 shares. The stock had previously closed at C$3.90.

Wall Street Analyst Weigh In

FOM has been the topic of several recent research reports. BMO Capital Markets raised shares of Foran Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Ventum Cap Mkts raised Foran Mining to a “strong-buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Foran Mining has an average rating of “Strong Buy”.

Foran Mining Trading Up 10.3%

The firm’s fifty day moving average price is C$3.67 and its two-hundred day moving average price is C$3.23. The stock has a market capitalization of C$2.32 billion, a PE ratio of -86.00 and a beta of 0.76.

Foran Mining (TSE:FOM) last released its quarterly earnings results on Friday, November 7th. The company reported C$0.02 EPS for the quarter.

About Foran Mining

Foran Mining Corp is a zinc-copper exploration and development company with projects located along the Flin Flon Greenstone Belt. Its project portfolio comprises McIlvenna Bay, Bigstone, VMS Primer, Hanson Lake Project, and others projects.