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Investing.com - BMO Capital upgraded Foran Mining Corporation (TSX:FOM) (OTC:FMCXF) from Market Perform to Outperform and raised its price target to C$4.50 from C$3.75.
The upgrade follows BMO Capital analyst attendance at an investor tour of the McIlvenna Bay project, where Foran management and G Mining Services showcased the development to analysts and investors.
Saskatchewan government officials, including the Premier, participated in the tour and demonstrated strong support for the mining project, according to BMO Capital.
The analyst tour highlighted McIlvenna Bay’s construction progress, operational readiness, and scale potential supported by Tesla, along with additional exploration opportunities at the site.
BMO Capital specifically designated the new Outperform rating as "Speculative" while emphasizing the project’s status as one of "national importance" in their assessment.
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