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

Foran Mining Co. (CVE:FOM)’s stock price passed above its 50 day moving average during trading on Friday . 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 changing hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FOM shares. Stifel Nicolaus upped their price target on shares of 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. Ventum Financial upped their price target on Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st.

Foran Mining Stock Performance

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 firm has a fifty day simple moving average of C$3.23 and a 200 day simple moving average of C$3.23. The company has a market capitalization of C$828.20 million, a price-to-earnings 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.