Foran Mining (CVE:FOM) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Foran Mining Co. (CVE:FOM)’s share price crossed above its fifty day moving average during trading on Friday . 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 1,032,725 shares.

Wall Street Analysts Forecast Growth

FOM has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Eight Capital lifted their price objective on Foran Mining from C$6.00 to C$6.25 in a report on Thursday, July 11th. Finally, BMO Capital Markets dropped their price objective on Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th.

Foran Mining Stock Up 3.9 %

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 stock has a fifty day moving average price of C$3.23 and a two-hundred day moving average price of C$3.23. The company has a debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55.

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.