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

Shares of Foran Mining Co. (CVE:FOM) passed below its fifty day moving average during trading on Tuesday . 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FOM shares. Ventum Financial boosted their price target on Foran Mining from C$5.25 to C$5.50 in a research note on Tuesday, December 16th. Cormark upped their target price on shares of Foran Mining from C$3.75 to C$4.25 in a report on Tuesday, September 30th. National Bankshares increased their target price on shares of 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. Finally, Scotiabank boosted their price target on shares of Foran Mining from C$4.25 to C$4.50 in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$4.79.

Foran Mining Price Performance

The stock has a fifty day moving average of C$3.23 and a 200-day moving average of C$3.23. The firm has a market capitalization of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The company has a quick ratio of 2.90, a current ratio of 6.03 and a debt-to-equity ratio of 6.98.

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