Foran Mining (FOM) AI Stock Analysis

• Market Cap: C$3.01B
• Dividend Yield: N/A
• Average Volume (3M): 1.99M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: N/A
• EPS Growth: -103.83%
• Country: CA
• Employees: 167
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): -0.02
• Shares Outstanding: 511,609,680
• 10 Day Avg. Volume: 1,908,525
• 30 Day Avg. Volume: 1,992,947
• PEG Ratio: -23.81
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.30
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$5.50
• Price Target Upside: -0.72% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: C$5.00 ▼(-9.75% Downside)

The score is held back primarily by weak financial performance—no revenue, ongoing losses, and very large negative free cash flow alongside rising debt—despite a strong technical uptrend. Positive corporate updates (project nearing completion and favorable exploration/policy developments) support the outlook, while valuation metrics are constrained by negative earnings and no stated dividend yield.

Positive Factors

Project Advancement

The advancement of the McIlvenna Bay project towards commercial production by 2026 indicates strong potential for future revenue generation and market positioning in critical minerals.

Resource Expansion

Significant drill results at the Tesla Zone suggest potential for resource expansion, enhancing Foran's long-term growth prospects and industry positioning.

Strategic Positioning

Foran's strategic focus on critical minerals positions it well to capitalize on increasing global demand, potentially boosting its market relevance and stakeholder value.

Negative Factors

Financial Instability

Persistent financial difficulties and negative cash flow highlight operational challenges, raising concerns about Foran's ability to sustain operations without external financing.

Revenue Absence

The absence of revenue generation underscores significant profitability issues, limiting Foran's ability to self-fund its projects and impacting long-term financial health.

Reliance on Financing

Heavy reliance on financing activities for operational sustainability poses risks to Foran's financial stability, potentially affecting its long-term viability and growth.

Foran Mining Business Overview & Revenue Model

Company Description

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. Foran Mining Corporation was incorporated in 1989 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Foran Mining Corporation generates revenue primarily through the exploration and development of its mineral properties, particularly the McIlvenna Bay Project. The company seeks to increase its value by advancing this project through various development stages, ultimately leading to commercial production. Revenue is expected to be generated from the sale of extracted minerals such as copper, zinc, gold, and silver once these projects reach operational maturity. Additionally, Foran may engage in strategic partnerships, joint ventures, or off-take agreements with other mining companies or investors to secure funding and share risks associated with mineral exploration and development. These partnerships can provide upfront capital or revenue through milestone payments, royalties, or profit-sharing arrangements, contributing to the company's earnings.

Foran Mining Financial Statement Overview

Summary

Foran Mining is facing significant financial difficulties, primarily due to the absence of revenue generation. The income statement shows consistent losses, and cash flow is negative, indicating operational challenges. While the balance sheet shows strong equity and cash reserves, the overall financial position is weak, and the company's ability to sustain operations heavily depends on financing activities, posing risks to its future financial stability.

Income Statement

Foran Mining's income statement indicates financial challenges with zero revenue generation over the reported periods, leading to consistent losses. The lack of gross and net profit margins due to no sales activity, along with negative EBIT and EBITDA, highlights significant profitability issues.

Balance Sheet

The balance sheet shows a strong equity base and solid cash reserves, which is a positive aspect despite the absence of revenue. The debt-to-equity ratio is low, indicating manageable leverage. However, the absence of revenue undermines the potential benefits of these figures.

Cash Flow

Foran Mining's cash flow statements reveal a consistent negative free cash flow trend, suggesting operational challenges. The company's reliance on financing activities to support its cash position is evident, yet the operating cash flow remains negative, raising concerns about long-term sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	982.00
Gross Profit	0.00	0.00	0.00	-58.00K	-98.00K	-142.00K
EBITDA	-4.57M	-4.49M	-16.89M	-9.73M	-3.59M	-1.91M
Net Income	-19.58M	-18.87M	-13.62M	-9.79M	-4.36M	-2.05M
Balance Sheet
Total Assets	1.72B	1.16B	542.49M	236.73M	174.89M	42.17M
Cash, Cash Equivalents and Short-Term Investments	333.42M	363.63M	266.49M	87.32M	84.00M	1.05M
Total Debt	421.41M	262.53M	38.47M	34.08M	1.09M	54.00K
Total Liabilities	570.46M	360.56M	84.43M	49.03M	14.54M	1.04M
Stockholders Equity	1.15B	795.66M	458.06M	187.70M	160.35M	41.13M
Cash Flow
Free Cash Flow	-484.18M	-196.96M	-111.37M	-59.48M	-40.35M	-1.24M
Operating Cash Flow	-3.00M	-1.03M	-6.28M	-1.98M	-4.42M	-481.00K
Investing Cash Flow	-769.17M	-457.99M	-105.44M	-61.78M	-35.94M	-757.00K
Financing Cash Flow	679.88M	554.70M	290.39M	67.17M	123.30M	1.90M

Foran Mining Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.54
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FOM, the sentiment is Positive. The current price of 5.54 is above the 20-day moving average (MA) of 4.75, above the 50-day MA of 4.24, and above the 200-day MA of 3.46, indicating a bullish trend. The MACD of 0.39 indicates Negative momentum. The RSI at 78.46 is Negative, neither overbought nor oversold. The STOCH value of 84.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FOM.

Foran Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AFM	82 Outperform	C$1.53B	9.12	33.87%	9.17%	34.89%	67.31%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
FOM	55 Neutral	C$3.01B	-130.05	-2.00%	―	―	-103.83%
AHR	53 Neutral	C$319.96M	-112.00	-385.36%	―	―	-267.65%
AII	51 Neutral	C$3.33B	-24.81	-57.75%	―	7.50%	-508.68%

Foran Mining Corporate Events

Foran Mining’s McIlvenna Bay Project Nears Completion, On Track for 2026 Production

Foran Mining Corporation announced that the construction of its McIlvenna Bay project has reached 79% completion as of November 2025, keeping the project on track for commercial production by mid-2026. The project is progressing within budget and schedule, with significant advancements in both surface and underground development. The company highlights the project’s operational readiness and the potential for district-scale exploration, marking 2026 as a pivotal year for transitioning into production.

The most recent analyst rating on (TSE:FOM) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Foran Mining stock, see the TSE:FOM Stock Forecast page.

Foran Mining Advances McIlvenna Bay Project Towards 2026 Production

Foran Mining Corporation has reported significant progress in the development of its McIlvenna Bay project, with construction reaching 72% completion as of October 2025. The project is on track for commercial production by mid-2026, maintaining its budget and timeline. Key achievements include advancements in both surface and underground infrastructure, with a focus on safety and efficiency. The company also acknowledges the Canadian government’s support through the Clean Technology Manufacturing Investment Tax Credit, which aligns with its goals of sustainable mineral development.

The most recent analyst rating on (TSE:FOM) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Foran Mining stock, see the TSE:FOM Stock Forecast page.

Foran Mining Expands High-Grade Mineralization at Tesla Zone

Foran Mining Corporation has announced promising results from its H2 2025 drill program at the Tesla Zone, part of its McIlvenna Bay Project. The drilling has successfully extended high-grade copper mineralization and revealed significant gold and silver opportunities, particularly in the northern part of the Tesla Zone. These findings are expected to contribute to a maiden resource estimate in H2 2026, supporting Foran’s phased expansion plans and advancing towards commercial production by mid-2026. The results underscore the potential for further expansion and underline the company’s strategic focus on enhancing its resource base.

The most recent analyst rating on (TSE:FOM) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Foran Mining stock, see the TSE:FOM Stock Forecast page.

Foran Mining Applauds Expansion of Clean Technology Tax Credit

Foran Mining Corporation has welcomed the Canadian Federal Budget’s expansion of the Clean Technology Manufacturing Investment Tax Credit (CTM ITC), which now includes support for polymetallic extraction and processing. This policy change is seen as a significant opportunity to attract global private capital and accelerate the development of critical mineral projects in Canada, enhancing the country’s position as a leader in critical minerals production and supply chain ownership. The CTM ITC, offering a 30% refundable investment tax credit, aims to bolster the domestic critical minerals industry by supporting upstream investment and project development.

The most recent analyst rating on (TSE:FOM) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Foran Mining stock, see the TSE:FOM Stock Forecast page.

Foran Mining Advances McIlvenna Bay Project Towards 2026 Production

Foran Mining Corporation has reported significant progress in the construction of its McIlvenna Bay project, achieving 64% completion by the end of Q3 2025. The project is on track for commercial production by mid-2026, with major milestones such as record underground development and key surface construction achievements. This progress underscores Foran’s disciplined execution and commitment to safety, positioning the company to play a crucial role in the critical minerals sector.

The most recent analyst rating on (TSE:FOM) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Foran Mining stock, see the TSE:FOM Stock Forecast page.