Foran Mining (CVE:FOM) Stock Crosses Below 50-Day Moving Average – Should You Sell?

Foran Mining Co. (CVE:FOM)’s stock price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-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 traded.

Analyst Upgrades and Downgrades

FOM has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Foran Mining from C$5.25 to C$5.00 and set an “outperform” rating for the company in a research note on Wednesday, September 18th. Stifel Nicolaus lifted their price target on shares of Foran Mining from C$4.75 to C$5.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th.

Foran Mining Price Performance

The stock has a market capitalization of C$828.20 million, a PE ratio of -64.60 and a beta of 3.68. The company has a debt-to-equity ratio of 13.01, a quick ratio of 2.90 and a current ratio of 6.55. The company’s fifty day simple moving average is C$3.23 and its two-hundred 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.