Foran Mining Co. (CVE:FOM – Get Free Report) shares passed below its 50-day moving average during trading on Friday . 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.
Wall Street Analysts Forecast Growth
Separately, Scotiabank cut shares of Foran Mining from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$6.00 to C$6.60 in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$6.34.
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Foran Mining Price Performance
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.
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