Scotiabank Issues Positive Forecast for Foran Mining (CVE:FOM) Stock Price

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

A number of other research firms also recently weighed in on FOM. 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. Ventum Financial increased their target price on Foran Mining from C$5.25 to C$5.50 in a research report on Tuesday, December 16th. Finally, National Bankshares lifted their target price on Foran Mining from C$4.50 to C$5.25 and gave the company an “outperform” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$5.04.

Foran Mining Trading Up 3.9%

Shares of CVE FOM traded up C$0.12 on Thursday, reaching C$3.23. 1,032,727 shares of the company traded hands, compared to its average volume of 494,615. The stock has a market capitalization of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. Foran Mining has a fifty-two week low of C$2.02 and a fifty-two week high of C$4.32. The company has a current ratio of 6.03, a quick ratio of 2.90 and a debt-to-equity ratio of 6.98. The company has a 50 day moving average of C$3.23 and a 200 day moving average of 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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.