Foran Mining falls after BMO downgrades to 'market perform'

Foran Mining

15/05/2025 16:09

** Shares of Canada-based Foran Mining FOM.TO dip ~4.3% to C$3.11

** BMO downgrades FOM to "market perform" from "outperform" rating, cuts PT to C$3.75 from C$5

** On Tuesday, FOM provided a capital cost update for phase 1 production at its McIlvenna Bay project

** Brokerage says higher re-estimation of the capital cost of phase 1 production is a disappointing development

** Including session's moves, stock down ~20.9% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)

 ((Prakhar.srivastava2@thomsonreuters.com))