Foraco International (TSE:FAR) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Foraco International SA (TSE:FAR)’s share price 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.

Analyst Ratings Changes

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

Foraco International Price Performance

The company has a 50 day moving average of C$2.27 and a two-hundred day moving average of C$2.32. The firm has a market cap of C$225.77 million, a P/E ratio of 5.59 and a beta of 1.25. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 111.75.

Foraco International (TSE:FAR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported C$0.11 earnings per share for the quarter, beating the consensus estimate of C$0.08 by C$0.03. Foraco International had a net margin of 8.87% and a return on equity of 33.87%. The company had revenue of C$105.94 million during the quarter. Sell-side analysts expect that Foraco International SA will post 0.5984655 EPS 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.