Foran Mining (CVE:FOM) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Shares of Foran Mining Co. (CVE:FOM) passed below its fifty day moving average during trading on Wednesday . 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 1,032,725 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on FOM shares. BMO Capital Markets decreased their price objective on shares of 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. Stifel Nicolaus increased their target price on shares of Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Foran Mining Stock Performance

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. The company has a current ratio of 6.55, a quick ratio of 2.90 and a debt-to-equity ratio of 13.01. The stock’s fifty day simple moving average is C$3.23 and its 200-day simple moving average is C$3.23.

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.