Foran Mining Corp (TSE:FOM)
TSX:FOM
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Foran Mining
(TSX:FOM)
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Rating:46Neutral
Price Target:
C$5.50
▲(1.10% Upside)
Action:ReiteratedDate:03/21/26
The score is primarily constrained by weak financial performance (pre-revenue, ongoing losses, and materially negative free cash flow with rising debt). Technicals also weigh on the score due to a bearish trend and negative momentum, despite oversold readings. Valuation contributes limited support because earnings are negative and no dividend yield is available.
Positive Factors
Sizable equity base / funding capacity
A materially larger equity base strengthens the company’s ability to fund capital-intensive development work without immediate operating cash flow. For a development-stage miner this durable capital cushion reduces near-term dilution and improves capacity to advance studies, permitting and construction planning over coming quarters.
Negative Factors
Deeply negative free cash flow
Very large and growing negative free cash flow reflects heavy capital spending and no operating cash generation. This structural cash burn means the company will remain reliant on external financing; prolonged negative FCF raises execution and dilution risk if capital markets tighten or project schedules slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Sizable equity base / funding capacity
A materially larger equity base strengthens the company’s ability to fund capital-intensive development work without immediate operating cash flow. For a development-stage miner this durable capital cushion reduces near-term dilution and improves capacity to advance studies, permitting and construction planning over coming quarters.
Read all positive factors
Foran Mining (FOM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$3.07B
Dividend YieldN/A
Average Volume (3M)1.99M
Price to Earnings (P/E)―
Beta (1Y)2.06
Revenue GrowthN/A
EPS Growth-103.83%
CountryCA
Employees167
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)0.04
Shares Outstanding535,723,140
10 Day Avg. Volume1,908,525
30 Day Avg. Volume1,992,947
Financial Highlights & Ratios
PEG Ratio25.66
Price to Book (P/B)2.05
Price to Sales (P/S)0.00
P/FCF Ratio-4.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$6.60Price Target Upside21.32% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.08
Revenue Forecast (FY)C$286.69M
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 c...
How the Company Makes Money
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Foran Mining Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | -58.00K | -98.00K |
| EBITDA | -23.66M | -4.49M | -16.89M | -9.73M | -3.59M |
| Net Income | -1.00M | -18.87M | -13.62M | -9.79M | -4.36M |
Balance Sheet | |||||
| Total Assets | 1.79B | 1.16B | 542.49M | 236.73M | 174.89M |
| Cash, Cash Equivalents and Short-Term Investments | 177.46M | 363.63M | 266.49M | 87.32M | 84.00M |
| Total Debt | 443.02M | 262.53M | 38.47M | 34.08M | 1.09M |
| Total Liabilities | 580.20M | 360.56M | 84.43M | 49.03M | 14.54M |
| Stockholders Equity | 1.21B | 795.66M | 458.06M | 187.70M | 160.35M |
Cash Flow | |||||
| Free Cash Flow | -587.58M | -196.96M | -111.37M | -59.48M | -40.35M |
| Operating Cash Flow | -19.89M | -1.03M | -6.28M | -1.98M | -4.42M |
| Investing Cash Flow | -724.46M | -457.99M | -105.44M | -61.78M | -35.94M |
| Financing Cash Flow | 558.21M | 554.70M | 290.39M | 67.17M | 123.30M |
Foran Mining Technical Analysis
Positive
5.44
Price Trends
6.13
Negative
5.60
Positive
4.41
Positive
Market Momentum
-0.11
Negative
48.60
Neutral
71.61
Neutral
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 5.44 is below the 20-day moving average (MA) of 5.47, below the 50-day MA of 6.13, and above the 200-day MA of 4.41, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 48.60 is Neutral, neither overbought nor oversold. The STOCH value of 71.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:FOM.
Foran Mining Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | C$1.71B | 7.36 | 39.07% | 9.17% | 34.89% | 67.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | C$8.09B | -15.51 | -116.13% | ― | 7.50% | -508.68% | |
46 Neutral | C$3.07B | -2,466.70 | -0.09% | ― | ― | -103.83% | |
42 Neutral | C$218.57M | -334.55 | 166.87% | ― | ― | -267.65% |
* Basic Materials Sector Average
TSE:FOM
Foran Mining
5.44
2.08
61.90%
TSE:AFM
Alphamin Resources
1.34
0.59
79.62%
TSE:AHR
Amarc Resources
0.97
0.47
94.00%
TSE:AII
Almonty Industries
28.84
25.00
651.04%
Foran Mining Corporate Events
Business Operations and StrategyDelistings and Listing ChangesM&A Transactions
Eldorado Gold Closes Foran Mining Deal, Adding McIlvenna Bay Asset
Positive
Apr 14, 2026
Eldorado Gold has completed its acquisition of all outstanding shares of Foran Mining, making Foran a wholly owned subsidiary and adding the McIlvenna Bay copper-zinc-gold-silver project in Saskatchewan to its portfolio. The deal gives Eldorado gr...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Foran Securityholders Back Eldorado Gold Combination Ahead of Court, Shareholder Approvals
Positive
Apr 7, 2026
Foran Mining shareholders and other securityholders have overwhelmingly approved a business combination with Eldorado Gold Corporation via a court-supervised plan of arrangement under British Columbia corporate law. The deal received strong suppor...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Eldorado Gold and Foran Mining Press Investors to Back Acquisition Arrangement
Positive
Apr 1, 2026
Eldorado Gold and Foran Mining are urging their respective investors to back resolutions that will advance a previously announced plan of arrangement under which Foran would become a wholly owned subsidiary of Eldorado. The boards of both companie...
Business Operations and StrategyM&A Transactions
Fairfax Backs Foran–Eldorado Deal, Boosting Odds of Shareholder Approval
Positive
Mar 30, 2026
Foran Mining said affiliates of major shareholder Fairfax Financial have signed a voting support agreement backing its planned combination with Eldorado Gold, giving the transaction support from about 17.6% of its common shares, or 21.6% on a conv...
Business Operations and Strategy
Foran Nears Completion and Begins Mill Commissioning at McIlvenna Bay
Positive
Mar 26, 2026
Foran Mining reports that construction of its McIlvenna Bay mine and mill reached about 91% completion by the end of February 2026, keeping the project on schedule and within budget for mid-2026 commercial production. The company highlights strong...
Business Operations and StrategyM&A TransactionsShareholder Meetings
ISS Backs Foran Mining’s Sale to Eldorado Gold, Board Urges Shareholder Support
Positive
Mar 25, 2026
Foran Mining has received a recommendation from leading proxy advisory firm Institutional Shareholder Services that shareholders vote in favour of the proposed plan of arrangement under which Eldorado Gold will acquire all outstanding Foran common...
Business Operations and Strategy
Foran Mining Extends Thunder Zone Mineralization in McIlvenna Bay District Push
Positive
Mar 24, 2026
Foran Mining reported initial 2026 winter drill results from the Thunder Zone, about five kilometres southeast of its McIlvenna Bay Deposit in Saskatchewan, confirming it as a high-priority regional target. New drilling at hole BA-26-84 intersecte...
Business Operations and Strategy
Foran Mining Energizes McIlvenna Bay Hydro Power Line Ahead of Schedule
Positive
Mar 23, 2026
Foran Mining has energized an 85-kilometre, 110 kV transmission line linking its fully owned McIlvenna Bay project in Saskatchewan to SaskPower’s Island Falls hydroelectric facility. Completed ahead of schedule and on budget, the line secure...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Foran Urges Support for Eldorado Combination as Growth and Cash Flow Play
Positive
Mar 12, 2026
Foran Mining, a near-term critical minerals producer, has mailed a joint management information circular to its securityholders and Eldorado Gold shareholders ahead of special meetings to vote on their proposed combination. The board of Foran is u...
Business Operations and Strategy
Foran Mining Extends Tesla Zone Mineralization and Targets 2026 Resource Estimate
Positive
Feb 20, 2026
Foran Mining reported final drill results from its H2 2025 program at the Tesla Zone, confirming multiple copper- and zinc-rich sulphide lenses and extending the Tesla Main Lens mineralization further down dip. The latest highlight intercept from ...
Business Operations and Strategy
Foran’s McIlvenna Bay Mine Nears Completion as Wet Commissioning Begins
Positive
Feb 20, 2026
Foran Mining says construction at its McIlvenna Bay project is about 88% complete and remains on track and within budget for commercial production by mid-2026. The company has maintained strong safety performance, with no lost time injuries in Jan...
Business Operations and StrategyM&A Transactions
Eldorado to Acquire Foran in C$3.8 Billion Deal to Build Gold-Copper Growth Leader
Positive
Feb 2, 2026
Eldorado Gold Corporation has agreed to acquire Foran Mining Corporation in an all-share and nominal cash transaction valuing Foran at approximately C$3.8 billion, creating a combined gold-copper producer with long-life assets in Canada, Greece an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.