Foraco International (TSE:FAR) Trading 8.6% Higher – Should You Buy?

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

Analysts Set New Price Targets

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

Foraco International Stock Up 6.5 %

The firm has a market cap of C$138.94 million, a PE ratio of 5.14 and a beta of 1.25. The business’s 50 day moving average price is C$2.31 and its 200 day moving average price is C$2.27. The company has a debt-to-equity ratio of 115.59, a current ratio of 1.43 and a quick ratio of 0.88.

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.