Foran Mining (CVE:FOM) Stock Passes Below Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cormark increased their price target on shares of Foran Mining from C$3.75 to C$4.25 in a research note on Tuesday, September 30th. National Bankshares increased their price target on shares of Foran Mining from C$4.25 to C$4.50 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$4.75.

Foran Mining Trading Up 3.9%

The company has a debt-to-equity ratio of 6.98, a current ratio of 6.03 and a quick ratio of 2.90. The firm has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The business’s 50-day moving average price is C$3.23 and its 200-day moving average price is C$3.23.

Foran Mining Company Profile

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.