Foran Mining (TSE:FOM) Shares Down 2.4% - Should You Sell?

Key Points

• Foran Mining Corp. shares declined by 2.4%, trading at C$3.21, with a notable increase in trading volume of 82% compared to the average.
• Director Marie Inkster recently bought 24,150 shares at C$2.67 each, increasing her position in the company by 179.55% and emphasizing confidence among insiders.
• Foran Mining focuses on zinc-copper exploration along the Flin Flon Greenstone Belt, with a market cap of C$1.73 billion and a PE ratio of -107.00.

Foran Mining Corp. (TSE:FOM - Get Free Report)'s share price fell 2.4% on Monday . The company traded as low as C$3.20 and last traded at C$3.21. 1,242,343 shares traded hands during trading, an increase of 82% from the average session volume of 681,629 shares. The stock had previously closed at C$3.29.

Foran Mining Stock Up 1.8%

The stock's fifty day moving average price is C$2.86 and its two-hundred day moving average price is C$3.20. The company has a market capitalization of C$1.81 billion, a PE ratio of -111.67 and a beta of 0.50.

Insider Buying and Selling

In related news, Director Marie Inkster acquired 24,150 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of C$2.67 per share, for a total transaction of C$64,504.65. Following the completion of the acquisition, the director directly owned 37,600 shares of the company's stock, valued at approximately C$100,429.60. This represents a 179.55% increase in their position. 19.96% of the stock is owned by company insiders.

Foran Mining Company Profile

Foran Mining Corp is a zinc-copper exploration and development company with projects located along the Flin Flon Greenstone Belt. Its project portfolio comprises McIlvenna Bay, Bigstone, VMS Primer, Hanson Lake Project, and others projects.