Scotiabank Boosts Foran Mining (CVE:FOM) Price Target to C$6.00

Foran Mining (CVE:FOM) had its target price lifted by stock analysts at Scotiabank from C$4.50 to C$6.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 85.76% from the company’s previous close.

A number of other equities analysts have also issued reports on FOM. National Bankshares upped their target price on Foran Mining from C$4.50 to C$5.25 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Ventum Financial upped their price target on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, Cormark raised their price objective on Foran Mining from C$3.75 to C$4.25 in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$5.04.

Foran Mining Stock Up 3.9%

Shares of FOM traded up C$0.12 during mid-day trading on Thursday, reaching C$3.23. 1,032,727 shares of the stock traded hands, compared to its average volume of 494,615. The stock has a fifty day simple moving average of C$3.23 and a 200 day simple moving average of C$3.23. Foran Mining has a 12-month low of C$2.02 and a 12-month high of C$4.32. The company has a quick ratio of 2.90, a current ratio of 6.03 and a debt-to-equity ratio of 6.98. The firm has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.