Foraco International (TSE:FAR) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Foraco International SA (TSE:FAR) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.32 and traded as high as C$2.49. Foraco International shares last traded at C$2.37, with a volume of 11,021 shares trading hands.

Wall Street Analyst Weigh In

Separately, Desjardins set a C$4.25 target price on shares of Foraco International and gave the stock a “buy” rating in a report on Tuesday, December 3rd.

Foraco International Stock Down 1.2 %

The stock’s fifty day moving average is C$2.27 and its two-hundred day moving average is C$2.32. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 111.75. The firm has a market cap of C$233.66 million, a P/E ratio of 5.78 and a beta of 1.25.

Foraco International (TSE:FAR) last posted its earnings results on Wednesday, October 30th. The company reported C$0.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.03. The business had revenue of C$105.94 million for the quarter. Foraco International had a net margin of 8.87% and a return on equity of 33.87%. As a group, research analysts anticipate that Foraco International SA will post 0.5984655 earnings per share for the current year.

Foraco International Company Profile

Foraco International SA is the business of providing mineral and water drilling services and hydraulic drilling. It specializes in drilling in harsh environments and isolated locations including desert, and mountainous regions. The principal sources of revenue consist of drilling contracts for companies involved in mining and water exploration.