Foraco International (TSE:FAR) Hits New 12-Month High – Here’s What Happened

Foraco International SA (TSE:FAR)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$3.47 and last traded at C$3.40, with a volume of 69137 shares trading hands. The stock had previously closed at C$3.37.

Analysts Set New Price Targets

Separately, Desjardins upped their price objective on shares of Foraco International from C$3.00 to C$4.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Foraco International presently has an average rating of “Buy” and a consensus price target of C$4.50.

Foraco International Stock Up 0.9%

The company has a current ratio of 1.43, a quick ratio of 0.88 and a debt-to-equity ratio of 115.59. The business has a fifty day simple moving average of C$2.77 and a two-hundred day simple moving average of C$2.36. The company has a market cap of C$334.99 million, a PE ratio of 21.22 and a beta of 0.62.

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. The group has its operations in Europe, the Middle East and Africa, North America, South America and the Asia Pacific.