Foran Mining (CVE:FOM) Stock Passes Below Fifty Day Moving Average – What’s Next?

Foran Mining Co. (CVE:FOM) shares passed below its 50-day moving average during trading on Wednesday . 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 traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FOM. Cormark increased their price target on shares of Foran Mining from C$3.75 to C$4.25 in a research report on Tuesday, September 30th. National Bankshares increased their price target on shares of Foran Mining from C$4.25 to C$4.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Foran Mining has an average rating of “Moderate Buy” and an average target price of C$4.75.

Foran Mining Trading Up 3.9%

The company’s fifty day moving average is C$3.23 and its two-hundred day moving average is C$3.23. 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 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.