Foran Mining (CVE:FOM) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Foran Mining Co. (CVE:FOM)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-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

FOM has been the topic of several research analyst reports. National Bank Financial increased their price target on shares of Foran Mining from C$5.25 to C$8.50 in a report on Thursday, January 29th. Scotiabank cut shares of Foran Mining from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$6.00 to C$6.60 in a report on Tuesday, March 24th. ATB Cormark Capital Markets cut shares of Foran Mining from an “outperform” rating to a “tender” rating and raised their target price for the stock from C$5.00 to C$6.60 in a report on Tuesday, February 3rd. Finally, Stifel Nicolaus cut shares of Foran Mining from a “buy” rating to a “hold” rating and raised their target price for the stock from C$5.50 to C$6.60 in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$5.97.

Foran Mining Price Performance

The company has a debt-to-equity ratio of 18.16, a current ratio of 6.01 and a quick ratio of 2.90. The stock has a market cap of C$1.72 billion, a price-to-earnings ratio of -247.76 and a beta of 3.68. The business’s 50-day simple moving average is C$3.23 and its two-hundred day simple moving average is C$3.23.

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.