Foran Mining (CVE:FOM) Stock Passes Above 50 Day Moving Average – Time to Sell?

Foran Mining Co. (CVE:FOM)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 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 traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on FOM shares. Ventum Financial raised their price objective on shares of Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st. BMO Capital Markets reduced their price target on shares of Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Finally, Stifel Nicolaus upped their price objective on shares of Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a report on Tuesday, September 24th.

Foran Mining Stock Performance

The company has a fifty day moving average price of C$3.23 and a 200 day moving average price of C$3.23. The company has a debt-to-equity ratio of 13.01, a current ratio of 6.55 and a quick ratio of 2.90. The stock has a market cap of C$828.20 million, a P/E ratio of -64.60 and a beta of 3.68.

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.