Foran Mining (CVE:FOM) Stock Crosses Below Fifty Day Moving Average – Here’s Why
by Jessica Moore · The Cerbat GemForan Mining Co. (CVE:FOM – Get Free Report)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty 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.
Analyst Upgrades and Downgrades
Separately, Scotiabank downgraded shares of Foran Mining from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$6.00 to C$6.60 in a report on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Foran Mining presently has a consensus rating of “Hold” and a consensus price target of C$6.34.
Get Our Latest Stock Analysis on FOM
Foran Mining Stock Up 3.9%
The company has a market cap of C$1.72 billion, a P/E ratio of -247.76 and a beta of 3.68. The stock has a 50-day moving average of C$3.23 and a 200 day moving average of C$3.23. The company has a debt-to-equity ratio of 18.16, a current ratio of 6.01 and a quick ratio of 2.90.
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. The company was incorporated in 1989 and is headquartered in Vancouver, Canada.