Is Buying Foran Mining Corporation Here a Winning Strategy?

 Is Buying Foran Mining Corporation Here a Winning Strategy?

The stock of Foran Mining Corporation (CVE:FOM) hit a new 52-week high and has $0.31 target or 3.00% above today’s $0.30 share price. The 7 months bullish chart indicates low risk for the $32.22M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $0.31 price target is reached, the company will be worth $966,600 more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $0.3 per share. It is down 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.

Another recent and important Foran Mining Corporation (CVE:FOM) news was published by Marketwired.com which published an article titled: “Foran Announces Closing of Non-Brokered Financing for Proceeds of $1000000” on June 30, 2016.

Foran Mining Corporation is a Canada company, which is engaged in the acquisition, exploration and development of mineral properties. The company has a market cap of $32.22 million. The Firm has approximately six properties in Saskatchewan consisting of a total of over 50 claims for over 43,560 hectares, located between 12 and 90 kilometers west of Flin Flon, Manitoba. It currently has negative earnings. The Company’s Saskatchewan properties include McIlvenna Bay Property, which is located over 60 kilometers west of Flin Flon, in east central Saskatchewan; Bigstone Property, which consists of over 10 claims totaling approximately 16,120 hectares; Balsam Property, which consists of over seven claims totaling approximately 4,070 hectares; Hanson Property, which includes over two claims totaling approximately 2,560 hectares; Sam Property, which includes over four contiguous claims totaling approximately 1,530 hectares, and Comeback Bay Property, which includes over two claims totaling approximately 180 hectares.

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