Foran Mining (CVE:FOM) Stock Crosses Below 50-Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Analysts Set New Price Targets

A number of research analysts have weighed in on FOM shares. Scotiabank reduced their target price on Foran Mining from C$4.25 to C$4.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Stifel Nicolaus increased their price target on shares of Foran Mining from C$5.00 to C$5.50 in a report on Wednesday, April 30th. Finally, BMO Capital Markets cut shares of Foran Mining from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$5.00 to C$3.75 in a research note on Thursday, May 22nd.

Foran Mining Stock Up 3.9%

The company has a market cap of C$1.72 billion, a PE ratio of -247.76 and a beta of 3.68. The stock has a 50-day moving average of C$3.23 and a 200-day moving average of C$3.23. 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.