Foran Mining (CVE:FOM) Trading Up 3.9% – Here’s Why

Shares of Foran Mining Co. (CVE:FOM) rose 3.9% during trading on Thursday . The company traded as high as C$3.25 and last traded at C$3.23. Approximately 1,032,727 shares were traded during mid-day trading, an increase of 109% from the average daily volume of 494,615 shares. The stock had previously closed at C$3.11.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FOM shares. BMO Capital Markets lowered 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 research report on Wednesday, September 18th. Ventum Financial raised their price target on Foran Mining from C$6.00 to C$6.50 in a research report on Thursday, November 21st. Finally, Stifel Nicolaus lifted their price target on Foran Mining from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th.

Foran Mining Price Performance

The firm has a fifty day moving average of C$3.23 and a two-hundred day moving average of C$3.23. 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 company has a market capitalization of C$828.20 million, a PE 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.