Foraco International (TSE:FAR) Shares Up 8.6% – Time to Buy?

Foraco International SA (TSE:FAR)’s stock price traded up 8.6% during trading on Wednesday . The stock traded as high as C$2.08 and last traded at C$2.02. 350,585 shares changed hands during mid-day trading, an increase of 436% from the average session volume of 65,370 shares. The stock had previously closed at C$1.86.

Wall Street Analysts Forecast Growth

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

Foraco International Price Performance

The stock has a market cap of C$140.34 million, a P/E ratio of 5.20 and a beta of 1.25. The business has a 50 day simple moving average of C$2.30 and a 200-day simple moving average of C$2.26. The company has a debt-to-equity ratio of 115.59, a quick ratio of 0.88 and a current ratio of 1.43.

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.