Foraco International (TSE:FAR) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Foraco International SA (TSE:FAR) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$2.32 and traded as high as C$2.55. Foraco International shares last traded at C$2.41, with a volume of 80,519 shares trading hands.

Analyst Upgrades and Downgrades

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

Foraco International Price Performance

The company has a debt-to-equity ratio of 111.75, a quick ratio of 0.88 and a current ratio of 1.40. The firm has a fifty day simple moving average of C$2.26 and a two-hundred day simple moving average of C$2.31. The firm has a market cap of C$236.62 million, a PE ratio of 5.85 and a beta of 1.25.

Foraco International (TSE:FAR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported C$0.11 EPS for the quarter, topping analysts’ consensus estimates of C$0.08 by C$0.03. The business had revenue of C$105.94 million during the quarter. Foraco International had a net margin of 8.87% and a return on equity of 33.87%. Equities analysts predict that Foraco International SA will post 0.5984655 EPS for the current fiscal 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.