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

Shares of Foran Mining Co. (CVE:FOM) 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 1,032,727 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on FOM shares. Ventum Financial upped their price target on shares of Foran Mining from C$6.00 to C$6.50 in a report on Thursday, November 21st. 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.

Foran Mining Stock Performance

The company has a 50-day moving average price of C$3.23 and a 200-day moving average price of C$3.23. The company has a quick ratio of 2.90, a current ratio of 6.55 and a debt-to-equity ratio of 13.01. The firm 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.