Foran Mining (FOM) AI Stock Analysis

• Market Cap: C$1.43B
• Dividend Yield: N/A
• Average Volume (3M): 647.02K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• Revenue Growth: N/A
• EPS Growth: 8.92%
• Country: CA
• Employees: 167
• Sector: Basic Materials
• Sector Strength: 59
• Industry: Industrial Materials
• EPS (TTM): -0.04
• Shares Outstanding: 393,136,630
• 10 Day Avg. Volume: 363,447
• 30 Day Avg. Volume: 647,019
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• 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$5.00
• Price Target Upside: 47.49% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

Foran Mining's overall stock score is influenced by significant financial difficulties due to the lack of revenue generation and negative cash flow, which undermine its financial stability. Despite these challenges, recent corporate events suggest growth potential, particularly with the McIlvenna Bay project. However, the current valuation and technical indicators present challenges, with negative momentum and unfavorable P/E ratio. The company's reliance on financing activities and absence of profitability are key risks, though recent developments in their projects offer some hope for future improvement.

Foran Mining Business Overview & Revenue Model

Company Description

Foran Mining Corporation (FOM) is a Canadian-based exploration and development company focused on the identification, acquisition, and development of mineral properties. The company's primary activities center around the advancement of the McIlvenna Bay Project, a copper-zinc-gold-silver-rich volcanic-hosted massive sulfide (VHMS) deposit located in east-central Saskatchewan, Canada. Foran aims to develop sustainable mining practices and enhance value for stakeholders through strategic exploration and development of mineral assets.

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 in a developmental stage with no revenue generation yet, relying heavily on equity financing. The strong equity position is a positive indicator, but the absence of operational income and continuous cash outflows for investments pose financial risks.

Income Statement

Foran Mining has consistently reported zero revenue over the analyzed period, indicating no operational income. The company has been incurring losses, with negative EBIT and net income figures, reflecting operational and net losses. EBITDA margins are also negative, suggesting challenges in covering operational costs. The absence of revenue and continuous negative income margins suggest the company is in a pre-revenue or exploratory stage, typical for some mining firms, but poses a high risk for profitability.

Balance Sheet

The balance sheet shows a strong equity base with a high stockholders' equity and low total debt, resulting in a favorable debt-to-equity ratio. The equity ratio is robust, indicating a well-capitalized company with significant shareholder investment. However, the lack of revenue and continuous net losses could strain financial stability if external financing is reduced.

Cash Flow

Cash flow statements show significant negative free cash flow, driven by high capital expenditures, likely for project development or exploration activities. Operating cash flows are negative, indicating the company's reliance on external financing, evident from positive financing cash flows. While investment in growth is a positive sign, the negative cash flow from operations highlights a risk if financing sources become unavailable.

Breakdown
Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00
	Gross Profit
0.00	-58.00K	-98.00K	-142.98K	-152.29K
	EBIT
-16.94M	-9.61M	-6.36M	-1.19M	-1.83M
	EBITDA
-16.89M	-9.98M	-3.59M	-1.04M	-1.52M
	Net Income Common Stockholders
-13.62M	-9.79M	-4.36M	-2.05M	-1.67M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
266.49M	87.32M	84.00M	1.05M	391.61K
	Total Assets
542.49M	236.73M	174.89M	42.17M	40.90M
	Total Debt
38.47M	34.08M	1.09M	53.88K	153.92K
	Net Debt
-228.02M	-53.24M	-82.91M	-995.71K	-237.69K
	Total Liabilities
84.43M	49.03M	14.54M	1.04M	1.10M
	Stockholders Equity
458.06M	187.70M	160.35M	41.13M	39.79M
Cash Flow		Free Cash Flow
-111.37M	-59.48M	-40.35M	-1.24M	-4.13M
	Operating Cash Flow
-6.28M	-1.98M	-4.42M	-481.60K	-974.48K
	Investing Cash Flow
-105.44M	-61.78M	-35.94M	-756.70K	-3.15M
	Financing Cash Flow
290.39M	67.17M	123.30M	1.90M	350.80K

Foran Mining Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.39
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:FOM, the sentiment is Negative. The current price of 3.39 is above the 20-day moving average (MA) of 3.32, below the 50-day MA of 3.69, and below the 200-day MA of 3.94, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 44.95 is Neutral, neither overbought nor oversold. The STOCH value of 31.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:FOM.

Foran Mining Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AFM	73 Outperform	C$1.17B	8.50	30.99%	9.78%	86.03%	117.03%
SKE	52 Neutral	C$1.80B	―	-141.24%	―	―	-19.29%
Sector *	49 Neutral	$1.95B	-1.37	-21.20%	3.73%	0.84%	-29.84%
FOM	46 Neutral	C$1.43B	―	-3.01%	―	―	8.92%
NCX	33 Underperform	C$183.16M	―	-56.82%	―	―	-62.76%
SFR	18 Underperform	$291.66M	―	75.60%	―	―	-73.03%

Foran Mining Corporate Events

Foran Mining Advances McIlvenna Bay Project Towards 2026 Production

Foran Mining Corporation has reported significant progress in the construction of its McIlvenna Bay project, with overall completion reaching 32% as of March 31, 2025. The project is on track for commercial production in the first half of 2026, with advancements in engineering, underground development, and surface infrastructure. The company has achieved key milestones, including the installation of primary structural steel and enclosure around the SAG and ball mills, and is focused on meeting the growing global demand for critical minerals.

Spark’s Take on TSE:FOM Stock

According to Spark, TipRanks’ AI Analyst, TSE:FOM is a Neutral.

Foran Mining’s overall stock score is influenced by significant financial difficulties due to the lack of revenue generation and negative cash flow, which undermines its financial stability. Despite positive corporate events that suggest growth potential, the stock’s current valuation and technical indicators present challenges. The company’s reliance on financing activities and absence of profitability are key risks, though recent developments in their projects offer some hope for future improvement.

To see Spark’s full report on TSE:FOM stock, click here.

Foran Mining Files 2024 Financials and Advances McIlvenna Bay Project

Foran Mining Corporation has filed its annual financial results for the year ending December 31, 2024, along with its management’s discussion and analysis and annual information form. The company has also released a 2025 Technical Report for the McIlvenna Bay Project, outlining significant mineral resources. This development positions Foran Mining to potentially establish a new mining camp in the Flin Flon Greenstone Belt, enhancing its industry standing and offering promising prospects for stakeholders.

Foran Mining Unveils Record Drill Results at Tesla Zone, Signaling Expansion Potential

Foran Mining Corporation has announced significant results from its 2025 winter drill program at the Tesla Zone of the McIlvenna Bay Project. The drill program has returned the highest grade-thickness intercept to date, indicating substantial expansion potential for the zone. The results include robust intervals of mineralization, with drill hole TS-25-37 intersecting multiple zones of massive and semi-massive sulphides. This development underscores the potential for further growth and resource estimation, with ongoing drilling efforts aimed at confirming continuity and expanding the mineralized zones. The announcement highlights the company’s strategic focus on resource expansion and its implications for future resource estimates, potentially enhancing its industry positioning and stakeholder value.

Foran Mining Expands McIlvenna Bay Deposit with Promising Drill Results

Foran Mining Corporation has announced significant results from its 2025 winter drill program at the McIlvenna Bay Project, revealing a substantial down-plunge expansion of the McIlvenna Bay Deposit. The initial drill hole, BZ-25-01, successfully extended the deposit by 200 meters and expanded the Bridge Zone mineralization, indicating potential for further growth. The results suggest that mineralization may continue at depth, enhancing the project’s expansion prospects. This development is part of Foran’s largest winter drill program, which aims to advance the Tesla resource estimation and delineate the Bridge Zone, potentially strengthening the company’s position in the mining sector.

Foran Mining Advances Construction at McIlvenna Bay Project

Foran Mining Corporation reports significant progress in the construction of the McIlvenna Bay project, with a focus on safety and collaboration with local communities. Key developments include the initiation of structural steel installation for the grinding area, nearing completion of detailed engineering, and substantial underground development. The company has repurchased a 1% net smelter royalty, enhancing the project’s economic potential. Foran remains committed to advancing toward commercial production by the first half of 2026, positioning itself as a leading producer of critical minerals in North America.