Foran Mining (TSE:FOM) Trading 2.6% Higher - Here's Why

Key Points

• Foran Mining Corp. saw its stock price rise by 2.6%, reaching a high of C$2.86 during trading with 931,454 shares exchanged, marking a 49% increase in volume from average sessions.
• BMO Capital Markets downgraded Foran Mining's rating from "strong-buy" to "hold", although consensus still remains a "Buy" from other analysts.
• The company has a market capitalization of C$1.16 billion and operates in the exploration and development of zinc and copper projects along the Flin Flon Greenstone Belt.

Foran Mining Corp. (TSE:FOM - Get Free Report)'s stock price traded up 2.6% during mid-day trading on Friday . The stock traded as high as C$2.86 and last traded at C$2.81. 931,454 shares traded hands during trading, an increase of 49% from the average session volume of 627,229 shares. The stock had previously closed at C$2.74.

Analyst Ratings Changes

Separately, BMO Capital Markets cut Foran Mining from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Foran Mining has a consensus rating of "Buy".

Foran Mining Trading Up 2.6%

The firm has a market capitalization of C$1.16 billion, a P/E ratio of -167.36 and a beta of 3.80. The firm has a 50 day moving average price of C$2.84 and a 200-day moving average price of C$3.32.

About Foran Mining

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.

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