With an advance of 6.76%, Foran Mining Corporation (CDX:FOM:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.37, shares of FOM:CA opened this morning at $0.395 and closed the day at $0.395. Throughout the day, about 27,200 shares changed hands, compared to an average 30-day volume of 72,041 for Foran Mining Corporation. Shares moved as high as $0.4 and as low as $0.38 in today’s trading action.
The share appreciation gives the company a market capitalization of $35.85 million based upon 96.88 million shares outstanding.
In the past 52 weeks, shares of Foran Mining Corporation have traded as low as $0.065 and as high as $0.43. Technical traders will take note that at $0.395, shares of FOM:CA are trading above their 50-day moving average (MA) at $0.332 and above their 200-day MA at above $0.247. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.
Who is $Foran Mng Co?
Foran Mining Corp is a mineral exploration company. The Company and its subsidiaries are engaged in the acquisition and exploration of Manitoba project, Mcllvenna Bay project and other projects located in Saskatchewan. The company is led by its CEO Patrick Soares from its headquarters at 904-409 Granville Street.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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