Foran Mining (CVE:FOM) Stock Price Passes Above Fifty Day Moving Average of $3.23

Shares of Foran Mining Co. (CVE:FOM) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$3.23 and traded as high as C$3.25. Foran Mining shares last traded at C$3.23, with a volume of 1,032,727 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FOM. BMO Capital Markets upped their target price on Foran Mining from C$4.75 to C$5.25 and gave the company an “outperform” rating in a report on Wednesday, October 11th. Eight Capital increased their target price on Foran Mining from C$5.25 to C$6.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. National Bankshares upped their target price on shares of Foran Mining from C$4.75 to C$5.50 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, Pi Financial lifted their price target on Foran Mining from C$4.75 to C$5.30 and gave the company a “buy” rating in a report on Wednesday, October 11th.

Foran Mining Price Performance

The firm has a market capitalization of C$828.20 million, a P/E ratio of -64.60 and a beta of 3.68. The company has a current ratio of 6.55, a quick ratio of 2.90 and a debt-to-equity ratio of 13.01. The business’s fifty day moving average is C$3.23 and its 200 day moving average is C$3.27.

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.